I'll jump into this one because I used to play this card at league years ago with Gengar from Fossil, later reprinted in LC, in order to move the damage around. There was only 1 Sneasel/Slowking running around the leagues I played at.
At 3 energy for Psysplash, it was slow to build up. Because of its low HP, I wouldn't get more than 2 Psysplash out of it before it was KOed but even 1 Psysplash put a nice spread on the opponent's bench.
Energy Evolution Eevee made it so that it should be found while trying to build energy up for it, so there was a twofer there. Throw energy on Eevee and possibly get the D.Espeon, but if you flip tails then you've still got an energy card on Eevee for when you find the D.Espeon later.
Overall, it was nice in a format where lots of energy was needed for attacks across the opponent's field. Even against Sneasel/SlowKing, because it required so much energy to go onto Sneasel, you could still get 1 good attack out of it (it ignores W/R), although the D.Espeon would surely get KOed the following turn. If they put energy onto the SlowKings for some reason, then even better. Today's cards, where the energy required is so much less to do so much more, this card wouldn't do as well even if it had higher HP and less energy cost for its attack.