It doesn't copy whether that creature is tapped or untapped, whether it has any counters on it or Auras and Equipment attached to it, or any non-copy effects that have changed its power, toughness, types, color, and so on
Now for card draw, Blue is overall the strongest: Blue has Mystic Remora and three wheels Windfall / Timetwister / Time Spiral, X draws Stroke of Genius and Braingeyser, and a smattering of other stuff like Curiosity and Opportunity
Its not terrible as a Commander either, since you can protect it with Whispersilk Cloak and win with Commander damage
It's very well thought out during the design
The cards Tidy Up ability enables players to put a card from the top of their deck into their inkwell, exerted, every time they play a Floodborn card
It is a convenient method for people who want to carefully compare high-value cards.