This seems to fight with itself, or fill to many roles at once. Why not just "enchanted creature has deathtouch, if trash, P/T bonus"?

My only trouble with this is how it overshadows Riot Spikes. Circeus: I find it better this way since you can use it early as removal, later on as a game ender.

The deathtouch does fight with the increased power and decreased toughness, as both part do the same thing : make it trade more easily. The death touch was not the best addition. How about +2/-1, Trash +2/+0 instead? This way you do get your removal early, but lose the ability to kill stuff later in the game, a slight drawback masked as a slight upside? That way it plays differently than Riot spikes, without being a strict upgrade.

Normal +2/-1, Thrash +3/+0? Because with only +2, it's pretty much a FeelBad moment very time Thrash is triggered. You most often won't need the extra toughness enough to justify losing some removal.