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The ability goes on the stack

You don't have to worry about the cost of your hand because the effect of this card will wipe out your hand anyway, so you want to achieve the condition by padding the types of cards in your hand by repeatedly hitting searches and draws that remain in the field such as Continuous Spell

This gives you great odds to see spells after your opening hand more than you see lands

But the lack of passive lore gain is a huge bummer, plus you are missing out on the potential for ink reduction

Terra, Herald of Hope: Born with the ability to wield magic, Terra was placed under mind control by the Gestahlian Empire and forced to fight as a living weapon