It's designed to play catch-up on all axes card advantage, life, and mana -- and hitting each opponent at once means you never have to choose which resource you're going after
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We will absolutely see the other four
Offensively (and aside from generally challenging with characters), there are plenty of cards from The First Chapter that can make use of his ability
But death triggers enter Magic as a kind of bargain
In theory, this is true, but the fact that Wizards tied the unbanning to the release of Masters 25 and didn't issue an explicit warning about the possibility of rebanning the planeswalker in the future if things go wrong means that rebanning Jace, the Mind Sculptor in the near future (within the next year or two) will come at an extremely high cost