It was competitive with the colored four drops, and my second major deck used it as its four drop despite being three colors - and a control deck
And similar to Damping Sphere, Lavina can become better the more cards added to the Modern pool over time
While it is true that a few of these cards have now been Masterpieces twice (Mana Vault, Ancient Tomb, Through the Breach), we need only look as far as Mana Crypt and Sol Ring for examples of cards that have had multiple rare and shiny versions that have tended to trend upward together once the Masterpiece started to rise
Its facing a weird meta now after some nerfs to dominant decks like energy, but with Eldrazi emerging unscathed from bans
True or not, it certainly does give me hope that my fears are massively overblown
Once you're sure you have an opening to make an attack with the Kraken, you can fire off some spells to remove its remaining slumber counters and crack in for a modest 12 damage