In Cube, there has been some talk about this card and some lists are trying it out
But a decade later, Wizards would print Protean Hulk, which turned Flash into a Turn 1 win thanks to a convoluted loop of creatures that you can tutor up by using Flash to not just cheat the Protean Hulk into play but immediately sacrifice it, which was oddly an upside due to Protean Hulk's death trigger
On paper, it seems pretty balanced and self-restricting, for sure there won't be any oppressive card with this ability
That Bonder's Ornament will be surprisingly useful when you find yourself needing an answer in a couple of turns
One possibility is to cast Apocalypse, a card that gets rid of everything, including your hand, leaving you only with Barren Glory, but that needs to be done on your upkeep, so there are options like Leyline of Anticipation or Emergence Zone to give these spells flash
It plays best with cards like Anikthea, Hand of Erebos and Starfield of Nyx that want enchantments in your graveyard