Of course, the only time this card may not be of use is if your opponent is playing the same creatures you are, but you can simply name any creature type not on the board, and it will function as a standard board wipe instead
Thankfully, you might already have Evolved Sleeper if you play Arena since it sees play in various tier black decks, so hopefully you won't have to spend wildcards to get it
Auras and Equipment can't be destroyed, attached to other creatures, and so on
Most card bannings are often the result of a mistake from Magics design team, and these cards are no exception
Theoretically, anythings possible
But havent we already seen that combat tricks as of late are always good enough to use, given an equivalent added effect to risk for