It's basically cheating (or, more precisely: a color pie break) that lets red decks get rid of problematic cards like enchantments and guarantees that its target gets out of sight and out of mind, but runs the risk of replacing it with something even worse
There are 3 uncommon (less than 1%), 4 rare (less than 1%), and 2 mythic rare (less than 1%) scene cards that can be found in this slot
I also count 31 cards that reward you for having counters in some way, such as Inexorable Tide and Rikku, Resourceful Guardian
Sometimes it was
One last Mythic Rare Eldrazi worth mentioning from Modern Horizons 3 is Kozilek, the Broken Reality
The deck is chock-full of other instants you want to cast with Kalamax, from Chaos Warp to Temur Charm to the decks free commander spell, Deflecting Swat