Seems pretty weak, given how difficult land destruction is nowadays - but I guess it's usable for hosing planeswalkers; or powering up your -1/-1 creatures, if you have some way to get rid of your own lands?

So I guess its still kinda niche, but then some things have to be.

It's fairly good at hosing creatures with modular/graft/etc. I'd assume that's its primary use. It's half of Aether Snap tied to a faintly fiddly trigger condition. The set would probably want a couple of "Sacrifice a land: [do something]" or "Each player sacrifices a permanent" kind of effects, to let you do this without having to use your own Scorched Horizons on it.