You need your opponent to have cast at least three spells for it to be worth the 4 mana you invest into it, which happens in a single turn cycle in Commander but takes far too long in Limited
It's one of the best this year
There is some truth to this argument
Sure, you lose life in exchange, but being able to take a problematic enchantment the second it becomes a problem is a huge boost to black decks
P/T Number 60 Language English Legal Formats Commander, Historic, Legacy, Vintage Not Legal Formats Alchemy, Brawl, Competitive Brawl, Modern, Pauper, Pioneer, Standard, Timeless Rulings (6/6/2025) "Commander ninjutsu [cost]" means "[Cost], Reveal this card from your hand or from the command zone, Return an unblocked attacking creature you control to its owner's hand: Put this card onto the battlefield tapped and attacking." (6/6/2025) Commander ninjutsu is a variant of ninjutsu that can be activated from the command zone as well as from your hand
Since it only costs 1 mana, you can get it online immediately and control the top of your deck while triggering all your death synergies