It doesn't look like much, but a card like this can be very valuable more times than you think. Against a boardwipe, it can save your problem creature. In the late game, you can bounce one of your own creatures with an ETB trigger to get more value out of it. If this were a one-shot card, I would not rate it too high but because of its Flashback, it becomes a fairly solid card.
Pros: Bounce one of your own creatures twice
Cons: Only hits your creatures, different colour mana for Flashback