This is an excellent way to protect your own things, but it does have a small drawback, and thats because it doesnt say Creatures you control. That means that even your opponents things will be protected if they happen to be playing the same tribe or just some cards that share a type
The enter-or-attack ability is the real payoff, since paying and 2 life brings back a nonland permanent with mana value 3 or less from your graveyard
Aftermath Analyst allows you to Splendid Reclamation at instant speed, which feels like something I want to do, given how easy it is to recur creatures in the mill decks that want this
It's going to be less efficient than other red-green decks and other counterspell decks, but if style points are more important than winning, that should be a valid option
A fearful ability indeed, no one likes their cards to be out of the game