Keep in mind that Amulet Coin was in the same format as Claydol, and Uxie was introduced very soon after that. It was rotated alongside Claydol. This card is twice as good as Amulet Coin and we don't have much good draw in this format.
Sure, it can be Catchered around, but think about it. If they Catcher something and KO it, you can just promote the Pokemon with this attached again. If they Catcher something and don't KO it, they're probably now at a significant disadvantage since OHKOs are so common now.
Edit- Oh, never mind. I thought it allowed for two additional cards to be drawn at the start of the turn, for a total of three. It seems decent, but not as good as I thought it was. Certainly not twice as good as Amulet. :/