There's no room for messing about in an aggro deck by playing expensive draw spells or counterspells
Sometimes you cant have both, but this card is flexible enough to go into a variety of decks
Its true that those zombies enter the battlefield tapped (its safer to cast it when you have enough blockers to protect you), but using one card to get from 13 to 26 2/2 black zombie creature tokens is terrifying
Whenever you attack with one or more Creatures, you can add that much mana using any combination of Red and Green, and that mana doesnt empty from your pool until end of turn
Creatures (27) 4 Mother of Runes 2 Mangara of Corondor 2 Aven Mindcensor 3 Flickerwisp 4 Stoneforge Mystic 3 Mirran Crusader 4 Phyrexian Revoker 1 Fiend Hunter 4 Thalia, Guardian of Thraben Lands (23) Spells (10) Decks like Ari Laxs Death and Taxes could use Mother of Runes to pressure opposing removal spells, protect ones self from opposing attacks, or just force through some damage
Considering all these applications and the fact that Mirror-Mad Phantasm is a single-printing mythic, its current $0.70 price tag is surprising