This is "better" than blue eyes ultimate dragon, in terms of practicality purposes.
BEUD requires 3 blue eyes in order to summon, which is not always easy to get, Master of Oz only requires 2 monsters to summon a fusion that's almost as strong as BEUD.
Well, for one because despite its high attack it dies to a single Order to Charge/Soul Exchange. Blue-Eyes White Dragon will always be better as a high attack beater because it can be protected with Champion's Vigilance.
Nice but meteor b based fusion decks still have an edge due to blue d. Summoner, = less dead hands