This card's cost may be very welcome in a "Fabled" Deck.
Prior to its second erratum, this card had a few niche advantages:
Targeting a opponent's monster whose ATK relies entirely on its effect, such as "Evil HERO Dark Gaia" or "Montage Dragon, would leave your opponent with a very vulnerable Attack Position monster with 0 ATK.
Though this card has limited use in real life, it is incredibly useful in Yu-Gi-Oh! The Sacred Cards. In this game, it can flip all of its controller's monsters face-down at no cost, letting them be flipped to use their normally-single-use effects twice. For instance, use it with "Revival Jam" to Summon four fairly powerful monsters.
This card is similarly powerful in Yu-Gi-Oh! Duelist of the Roses. Perhaps its greatest use is with "Magician of Faith", since this allows for theoretically-infinite recycling of Monster effects every turn, including effects that increase ATK. It is slightly riskier, though, in that it flips down the opponent's monsters as well.
It can also be used with monsters with Flip effects that increase ATK/DEF. Since monsters in this game keep their ATK/DEF changes when flipped face-down, cards such as "Mystical Elf" and "Boo Koo" can stack their ATK/DEF increases with their previous uses.