Terrible jokes aside, the ceiling on the 0 activated ability is immense, especially if you can work out something with Displacer Kitten or The Chain Veil to add a bunch of mana from Chandra in the same turn
Its called Jumpstart, and its a quick way to get into the game by removing the deck-building aspect of Magic: The Gathering, players skip the setup and jump straight into wild, themed games
Still, Izzet Charm sees play all the way back to Modern and shows up in some Commander decks because the power of Izzet Charm is based on its flexibility, not its efficiency
It draws cards, it makes mana, and it has a weird name and creature type
Adding to this, its likely that the player will discard a valuable card among the trio sent to the discard pile