I get that this is meant to be a Silence that costs an additional but you can cast this on turn 2 and it is basically Time Walk. I'm interested in the angle this cards coming from but stopping someone from playing any cards doesn't make for fun gameplay.

It does threaten to become Time Walk, you're right. They can still attack and activate abilities, but that's it.

What if it is changed just to say "target player can't play lands this turn"?

I kind of feel not being able to play lands is the reason that this card has the potential to be quite pushed. Especially in a set that wants you to be playing lands each turn. Id much prefer this if this card punished a player for playing cards, rather than stopping them from doing it altogether. For example:

Whenever target player plays a card this turn, ~ deals 1/2 damage to that player.