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It slows down decks that try to cast multiple spells in one turn like Storm, Tron, or Cascade, and it also messes with greedy mana production

And while Bestow certainly had its time in the spotlight back in the day, it hasn't really been seen all too much outside of Theros , which I'm guessing could be due to the mechanic's inherent complexity and flavor profile of being tied directly to the Gods of Nyx

You can also add it into counter-themed decks where you can activate its ability more than once

Teferi, Time Raveler is the same way, as his passive power prevents players from casting instant-speed spells the moment he touches the table, preventing counterplay at a very early turn: as early as turn two if you can get some quick one-cost mana ramp out turn one