Honestly, this isn't a terrible card. It can be a really, really expensive and weaker version of Endure or it can be that thing that lets you hold off that token army for a turn or two in order to deal with that player. I'm not saying this card is great, just not as terrible as people think. Are there better ways to prevent damage? Yes, Safe Passage exists. That said however, this isn't bottom of the barrel. It can help against a wall of gribblies and, if necessary, be pumped in order to prevent a larger amount of creature-based damage. Still, it's far from perfect. It's just not far enough to no longer be able to see it.
Pros: Prevents damage to you & your creatures, pumpable
Cons: Snow mana only, only prevents creature-based damage, cumulative upkeep