It offers cheap and effective card draw early in the game
While Ratchet Bomb isnt a Modern staple, it does see play, often in colorless decks lacking removal options, as a Karn, the Great Creator tutor target or in mono-colored decks that cant easily power up Engineered Explosives as an answer to Urza's Saga tokens
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Think Mossborn Hydra can get to scary proportions with Bristly Bill, Spine Sower and Hardened Scales out
If you play against a graveyard-based deck, it can singlehandedly win the game on the spot and if you dont play against such decks, it still is a three mana with Flash and Reach
Also, this makes Standard Scam with prototype creatures possible