However, there's not much else giving the card value right now - maybe history will tell a different story
While the two first modes speak for themselves and would already constitute a strong magic card, the last mode is more format dependent and as it stands, it is a very effective ability in the current Modern metagame
With Shadows over Innistrad on the horizon and the current Limited format about to become irrelevant, I wont spend too much time on the details, but the important lesson here is how important context is
A massive battle spread right across the multiverse, it pulls together settings and characters we haven't seen in years for a final all-out war against Elesh Norn and her Phyrexian army
Red also has access to cycling, madness, and effects which care about discarding cards
Exile Exile was the kind of card we always eyed for the basic set