This card is terrible, it's so dumb that it's good. It's a weird thing to say, but on the face of it this card sucks ass, but you can exploit it's effect with self destruction. I think the paleo deck would be funner without the three copies most people seem to be running.
He cant activate its effect if its your hand/deck or banished. so yeah, it would have to stay in the grave, at least until the effect resolved
Just saw this card being used in conjunction with tenkabito + Babycerasaurus + two pronged attack combo. When babycera is destroyed via 2-pronged attack, he special summons element dino so he does not lose board advantage. really good stuff.