Bad cards don't better when they give or enable other bad cards. People will probably experiment with this card, Zerek, Master Cloner and Test Subject but I'll be surprised if a competitive deck comes out of it.
I think this card has ACTUAL potential in some zooish (probably dragon as always) priest.
why? cause priest compared to paladin (who you guys compare this buff to) can use the +2 HP much more, the fact that this comes early and gives more flexibility is quite important, the value isn't really good I know but the +2/+2 buff and the fact that you can make it mroe redundant with the undefined elixir makes it so it can find it's way into a competitive deck.
This card can also suck.. that's a likely scenario, just pointing out it's synergy in the class and the fact that it might be good.
I think the card would've been quite decent if More Arms! cost was 2 instead of 3. Flexible +4/+4 at 5 mana would have been okay. But comparing this to Spikeridged Steed, it just becomes laughably weak.