Um, is this intended to be "During your draw step, draw as many cards as you like"?

If so, that seems rather bonkers. (Cf Jin-Gitaxias, Core Augur, which costs twice as much as this.) But if not, then this seems curiously underpowered compared to Mind's Eye. More like Rhystic Study on an easily-killed body.

That is indeed a good point which I thought of mentioning - they are indeed crazily powerful in multiplayer (see the way that their mouseover shows they were both in Commander's Arsenal, a set of just 18 cards). So yes, you don't actually want to be on a comparable power level to those two.

It seems fine to me. At its best, it means each opponent has to reserve

At its worst, opponents can conspire together to make you deck yourself. (Though, hmm, should probably be 'you may draw a card' to combat that, and to avoid accidentally losing the game by forgetting.)

*sigh* Once again, V, there's never in the past 15 years been a rule that you lose the game if you miss a trigger. (Unless a judge deems it to be deliberate, in which case that's DQ for Cheating.) See Game Play Error - Missed Trigger - "Triggered abilities are common and invisible, so players should not be harshly penalized when forgetting about one."

If you miss a beneficial trigger of one of your cards, and only remember too late, generally the opponent gets to choose whether you get it or not. (The "Additional Remedy" section of the rules I linked.) With lots of subtleties, especially regarding detrimental triggers.