Simic decks are traditionally more inclined to have ramp cards, but this one also has Flying, in addition to a two-color mana generation.
It is effective early in match-ups, just as any other mana producer. But it also delivers some heavy hitters later in the game.
All in all, it's a terrific little card. It can also fit into a Faerie tribal deck in Limited since there is a pretty large number of the magical creatures in Throne of Eldraine.