The full text of these abilities are 'At the beginning of the upkeep of the player who has the initiative, that player ventures into Undercity,' 'Whenever one or more creatures a player controls deal combat damage to the player who has the initiative, the controller of those creatures takes the initiative,' and 'Whenever a player takes the initiative, that player ventures into Undercity.'" One is triggered on "venture into the dungeon," the other is triggered by combat damage and upkeep
This is somewhat better than a draw effect because you always draw gas. Discover the Formula is better than draw three cards in the late game because you draw three guaranteed nonlands
creates 1/1 blue Beeble creature tokens when it gains loyalty
And FLUDD from Mario Sunshine would have a field day washing away the GR logos the Rockets love to smear everywhere
This deck feels just fine in the current format
Search its controllers graveyard, hand, and library for all cards with the same name as that land and exile them