First of all, the card comes with two forms of evasion
Already this card is pretty hyped, and the artwork is great, too.
The key is that its ability is much worse than either ability would be individually both destroying a land and dealing two damage a turn would be broken, but you get their choice of it, and its a choice they get to make every turn, so its not as broken as it might appear initially but still strong
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In addition, once you counter an activated or triggered ability of an Artifact, Creature, or Planeswalker, that card loses all abilities for as long as Tidebinder stays in play