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I dont think that Den of the Bugbear is great because its efficient and powerful to activate, I think its great because the opportunity cost in aggressive red decks is incredibly low and it offers something to do with your mana when you flood

While it can be strong in slower, aura-heavy builds that can force awkward blocks and capitalize on duplication, its typically a niche or meta-dependent inclusion rather than a staple, and many Illusionist lists will prefer more reliable threats or direct aura setup over this conditional attack

It's countered

They are corrected in the errata list but the Demo Deck was not reprinted to correct these errors