Regnerate is kinda being phased out in favour of "Indesctructible UEOT" but that's minor. The combo of dicthing a card to pay for the regrowth is nice though; if the top card and one of the next two share a cost, you can pay for 'draw a card'. But the "Only if you gain life" trigger is fiddly.

I mean, you have a little life gain but most of it.. Oh. This is another trap to punish anyone foolish enough to play the non-basic lands, isn't it? That's not likely to go down well.

There are some cards having lifegain or something akin to that, all the gold cards are "combo" pieces to support the two "less focused" colour combinations in every mechanic. Like with this one, Blue got more Archaeology support overall so it can play controlly on its own. got some combo cards however that would make you focus more on this card and ignore , unless you want to force tri colour.