Red mana isn't just the attack-oriented color it also has a strong spell theme that it shares with its enemy color blue, which is what makes Izzet decks run
Its a great showcase of the new Prepared mechanic, which allows an expert mage to come into battle with their signature spell
Cards so stupefyingly awful that you ripped them apart, snarling, perhaps muttering profanity about wasting your money
Who knew this game would have over 100 expansions one day
Theres a little competition from cards like Glare of Heresy and Revoke Existence that often do similar jobs, but I think well find that being an Instant is a lot more valuable than killing the few nonenchantment artifacts that see play and that there are enough nonwhite enchantments that you cant rely on Glare of Heresy to answer enchantments (though Glare of Heresy will keep seeing play, just not in a competing role with Deicide)
Its not completely out of the question, but it takes a lot for this type of trick to be good, and this one is barely a mana undercosted for having to really set it up