I think you left off the Draw a card bit from the removal line.
I actually think this guy is going to get -3ed pretty often as it will allow him to draw into more counter magic or protection for Linvala. I also think this is the strongest vintage card we have seen in the spoilers so far.
I should preface this by saying that I've only thought of this card meaningfully in a Doomsday shell.
This thing is Doomsday's new best friend, and does almost everything that Doomsday wants to do. The only things this doesn't completely do from a protection standpoint is preclude REB/Blast, though it does force them to remove Teferi with it, potentially still giving you a window. I suppose it also can't deal with 2 lock pieces, though Doomsday is somewhat resilient in the first place. It is also fairly obscure to tell how well it fits into Doomsday's curve, which is incredibly tight post-gush restriction, but being that Doomsday would quite often be a 4-mana play without Teferi already in play, I suspect it will slot in well, or at least adequately. The +1 is probably not likely to be used well, but could potentially allow you to Thoughtseize on their draw step without fear of repercussion (this actually beats REB/Blast assuming they were tapped out, but that is unlikely to happen). This train of thought may lead to playing more Thoughtseize, which I feel may not be a terrible idea to start.
Assuming Teferi isn't dealt with, it will also draw you into your combo next turn free of charge while potentially removing whatever is stopping you (with no possible responses other than Ballista/Ravager shenanigans). Essentially, for Doomsday at least, this is Defense Grid + Top + Abrade in 1 card with more inevitability, more efficiency, and as a bonus pitches to Force. These points may lead the deck at large in a more controlling direction which, while slowing it down, should actually give it an edge in the current meta, assuming the number of Wastelands doesn't pick up.
I should also say that I don't necessarily think that this card is such a slam dunk for other archetypes, including similar storm builds.
This card is broken. Removes Stony/Rod and stops all counterspells.
I think, this is one reason that makes it a good choice for PO, probably better than for other decks. You can remove problematic permanents- Lavinia as well - AND draw a card, stop counterspells during the turn you are going off, play broken stuff like Demonic Tutor, Walk, Tinker (into Bolas‘ Citadel) and even Preordain and Night‘ Whisper during end step and bounce it with PO. Very flexible tool for this setting.
My initial reaction is that this goes best in PO, where each mode has value:
Static ability - eliminates the possibility of countermagic disrupting you
+1 - allows for more flexibility of sequencing
-3 - removes problematic permanents while digging for more action
Some other notes on this:
Its never dead, even in multiples, due to its ability to cycle itself
Compresses Repeal/Defense Grid into 1 card slot
Draws extra cards with Outcome if you don't mind turning your opponents counterspells back on
Combos hard with Tinker+Blightsteel
Smooths out disynergies of Non-free Counterspells + Sorcery Draw Spells
In sum, yes, I think this will have a huge impact on improving Paradoxical Outcome decks and thus impacting the format as a whole.
Notice this Teferi is nuts in Landstill.
- Bounces any pesky creatures that your opponent managed to resolve pre-Standstill.
- Stops your opponent from cracking Standstill on your EOT, or from countering your counterspells.
- Any time you feel like it, bounce Standstill, play out your hand, replay Standstill. Opponent can't take advantage of the window.