Obviously strong if you can draw a combo piece such as a malygos or a a mecha'thun. The fact that it makes the cards it draws cost 1 may actually be worth it but you have to keep track of the cards you have in your deck because you don't want to whiff. If the card takes off in the meta I can see people absolutely hating it because it could potentially make OTK decks more consistent.
Also if the miniature tavern brawl gets brought back, boy this is going to be a fun card :)
It's obvious, that this card will be used in some sort of combo decks some day (not saying it will be in the next expansion necessarily). The question is HOW exactly do you pull Jepetto before the other big minions. I am thinking of Witchwood Piper, but this means you shouldn't put other minions, i.e, make an almost complete spell deck, which will make you vulnerable to aggro.
it's just crazy that they printed such a card - there is so much potential for every deck running not many small minions, for every deck using some big battlecry minions and especially every combo deck will run this! It's an alternate win condition to your normal combo set up. If you have drawn all your combo pieces before playing this card, proceed as usual - if you play this one before drawing malygos etc., it will be game-breaking good!!! In the end, this card will be a staple in every combo deck - craft it golden, because this one will get hit with the nerf hammer!