For the card to offer value it needs to be recurred a few times which makes it very slow and finds its home most often in control decks or mid range decks
CORRESPONDENCE: Participant correspondence is time consuming and costly in staff time requirements
Throwing in some proliferate to speed up the card draw doesn't sound like a bad idea either
Though exiling four cards a turn sounds like a lot of your deck gone, lets do the math: 100 cards, minus the commander, minus your opening seven-card hand, minus four draw steps by the time you cast this, leaves 88 cards in your library
Many can be proactive or reactive based on your needs Lightning Helix can be sent at the opponent's face, or it can be removal for a pesky planeswalker or creature
You can also activate the draw 7 a few times, and then sacrifice it (or destroy it) at instant speed and draw 7 or 14 cards without any life lost