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This is basically a control players dream scenario, and I think we could see a few cards with this ability breaking into older formats

If the creature becomes a 4/4 Shark and then the cracks become completely covered later in the turn, the creature won't spontaneously become an 8/8 Octopus

It turns randomness into inevitability as long as you flip enough coins

Spells cast from the hand get exiled, and then cards are exiled from the top of the caster's library until a spell sharing a card type with the original spell gets revealed

While you do need to hit your opponent and pay some mana to do it, things can get super out of hand in just a few swings