Saw this thing in a random ddd decklist and took it for a spin - it can generate a surprising amount of disrruption:
It's a totaly free discard for witch
Summoning it during the opponent's turn triggers scaled ragnarok, so you can recover seigfried or zeus if they got popped before you used their effects, or just revive a gryphon for a search / tell for a foolish on pop.
If you popped a contract when summoning it it also triggers queen in the extra deck, so you get a non-targeting pop whenever.
On your turn it can banish alfred / solomon / clovis to trigger them.
Plus, it's a ddd monster so if all else fails you can just stack machinex over it on your turn. If it was a level 8 or had a better scale it would have been an instant addition to my deck. For now it's just a fun experiment. I usually search it with gryphon to discard with witch for a pop.