Outside of Blue, there are Wizards that kill (Aphetto Exterminator), discard (Vodalian Hypnotist), destroy enchantments (Thunderscape Battlemage), destroy artifacts (Thornscape Battlemage), deal damage (Thornscape Master, Prodigal Sorcerer), and pump creatures (Tribal Forcemage, Thunderscape Master)
In a spells-matter deck, Elusive Otter is both a noncreature spell and a spell, so this otter works very well in multiples
Any number of attacking creatures with banding can join together with up to one attacking creature without banding
They might just be not as popular compared to other options or simply need a caring owner/pilot/community to take the deck to the next level once more
Its a reasonably-priced scaling creature on its face, but nothing fancy
Pitch a Bloodghast and you have yourself the best one mana removal spell in the game