Seems a lot better than Jayemdae Tome, Azure Mage, and other repeatable card draw.

Those two don't bother me, since the tome is outdated, and Azure Mage could just, you know, attack. The card that really argues with this, though, is Oona's Grace. Instant speed is, admittedly an advantage. And I suppose that Oona's Grace was close to uncounterable, while this is very vulnerable to counterspells. Still, much better. Maybe that's okay?

It's pretty dang good. I could certainly see upcosting it by one. But the tome is colourless, so maybe being cheaper makes more sense? How about a double-blue in the cost as a halfway house?

I'm confident that Wizards wouldn't print this at less than 4 mana, put it that way. Compare also with Treasure Trove and Whispers of the Muse.

I actually thought about this as a Divination that always gets another Divination. Which is good in the long run but probably awful if you were searching for answers.

But I guess I did ignore some other repeatable draw effects when costing this. If anything, this was a bomb in Limited at CMC 3.

Changing from to .

Looking at this now, it reminds me of Petals of Insight. But it doesn't actually have much in common with it. That's card-draw or buyback ; this is (much smaller) card-draw and buyback .