It does need some fixing but one problem with this is I think the original intention was allowing your opponent to choose the effect like changing destiny
This means he can be an impressive early threat, building up lore faster than your opponent could deal with it
Aclazotz, Deepest Betrayal and Ojer Taq, Deepest Foundation both seem like win more cards in their archetypes, and thus will show up in EDH decks on those themes (they give me heavy Erebos, Bleak-Hearted vibes)
However, when combined with other cards, Cloak can be quite a force to be reckoned with
When paired with several death triggers, Judith can reliably be used to deal severe damage to one's opponents or to their creature's and Planeswalkers, functioning as removal
Aqueous FormAqueous Form is, all-in-all, less likely to be a routine target of Brightglass GearhulkBrightglass Gearhulk, which is not to say that it isn't an amazing card