At points like this, it can become misleading to continue counting spells like Raise the Alarm (or anything else that's unlikely to change the outcome of the game) as card advantage
On top of this, it has an extremely versatile ability
For instance, Hoarding Broodlord allows players to tutor for any card, exile it face down, then cast it with convoke
In those days, Mana Drain wasnt strictly better than Counterspell, thanks to mana burn, and it really did come up sometimes
Add to that the option to divert damage taken back at any target (including players), and She-Hulk could be a nice way to mutually assure destruction in the late game, pushing rivals to attack each other
Please dont let Phyrexia: All Will Be One go the way of Eldraine or Ikoria