Because can be specil summoned. yes it allows to your opponent to do the same. but if there's no lv4 monsters in gy that effect doesn't applied. nice for a starting hand card. sad monarch's aren't out yet raiza, mobius, etc... but it can be a fun card when the synchro's came (and of course xyz).
It can be special summon directly from your hand. This means you can summon twice in one turn. For example, special summon it first, then upgrade it with the Purple colour Beast Lord(SR from rank duel bonus) which allows single monster upgrade but it is Lv7.