In many ways this is often a lot more effective than playing the Hands (which with 3 Debunk and 3 Dimensional Prison arent quite as good as they were first thought to be), and the Fire Fists which can often easily plus but do rely on having to attack to keep up the advantage by searching out Tenki
The main reason this card is so great is that you can reuse it every turn
Although the effect of (2) is limited, it is excellent to be able to generate 3 tokens in exchange for releasing this card, and I think it can be used as a material for "Cyberse" link
If you bring a creature to the battlefield during the opponent's turn (for example, Teferi Mage of Zhalfir), and the cunning opponent phase it out, Teferi will phase in at the beginning of your untap step, and you can attack with it during the same turn
However, time has been better to this beautiful card, and it is now number one on the list, just as we predicted it would
Effect: Once per turn, you can tribute any number of "Eldritch" monsters, then special summon one "Eldritch Overlord" Ritual monster from your hand with a level equal or lower than the combined levels of the tributed monsters