Compared to Fiery War Axe you are paying 1 extra mana for the effect that can copy your tokens or even real cards, so its not bad. Its best with Nightmare Amalgam, but thats just gonna die to Hungry Crabs.
This appears to be a Wild card mostly. Unless we see more totems we want multiple copies of, I am not sure about this.
So if we look at this as a turn 6 play instead? You push the hero power button or play a 2 drop totem, then play this weapon. is that good enough for 6 mana? A 3/2 weapon that gives you a second totem?
Eh, I think with more support, maybe, this is playable. But in Wild, this is something I will experiment with for sure. This weapon, followed by the DK hero card in Wild is a very good play.