Special Summon it, then if you Special Summoned a LIGHT monster, you can destroy 1 monster your opponent controls with ATK less than or equal to the Special Summoned monster's
On top of the fact that this card was pretty meta-defining, its at the top for sure
The fact that creatures cast with Warp stick on the board until end of turn may trick you into forgetting they will be exiled, especially in Arena or in clustered board states
One way to play in this case is with antes, continuing until one player wins enough cards to render the other's deck unplayable (though, of course, the owner gets all the cards back afterwards)
1st edition Charizard Source: pkmncards Original | Upscaled (4x) I think this is pretty impressive
And considering that we have strong decks like Esper Pixie in Standard, bouncing a good permanent and drawing a card on top is very strong