Three card combo's in general are weakish. That said, it is a nice trick I've never seen.
The upside is obviously that it's a 1 color trick and none of the cards are restricted

Also, none of the cards are completely dead on their own (with the possible exception of the Seer). If you build a mono-blue scepter build, this might be a cool trick. The downside is that yeah, it may well be too slow. It's still 2 mana for a card. But there's no substitute for trying.