The best use case I can see with this is using it like a beefed-up No Rest for the Wicked, and instead of getting your stuff back to hand immediately, you make a bunch of tokens and then run out Illicit Masquerade
Its the latest event in the Pokmon TCGs ongoing battle with resellers looking to turn a profit on the back of the games booming popularity, which has seen the most expensive Pokmon cards sold for hundreds of thousands of dollars at auction.
The thing is, it transfers the four negative counters when it dies, which is usually good enough to kill a creature
First, you get to exile two permanents when you cast it, helping you clear any big threats from the board or cards like Laboratory Maniac that could actually make Ulamogs attack trigger beneficial to its owner
Lier, Disciple of the Drowned stops spells from being countered