At two mana you can usually afford to be playing this in your main phase safely
If there's a time for counterdrafting, it's usually much later in the pack, once most of the good cards have dried up
And since he grants Indestructible to the creatures he cheats in for the turn, you can swing with total confidence
Which makes sense when you look at its other printings: the cheapest version from Baldur's Gate is worth close to $100, for a card that is one of Magic's best dragons, an amazing treasure card, and a cEDH staple
I usually wind up casting Comet Storm off mana from a Mana Geyser, but I have a friend with a Gruul Wort, the Raidmother deck that is quite capable of using both colors to build up to a big mana burn spell
See also rule 605, Mana Abilities. 305.7