Both good and bad....
On one hand it's the anti brick attacker. Even blue Eyes would lose against it if the bug went after it giving it some use.
On the other hand it isn't too overpowered because the attack loss isn't permeant and it still can be killed by a brick.
I can see some use for it and Bug boy may finally branch out from burn decks with this card... or not.
Riryoku leads to card disadvantage, especially if they block your attack this thing not. lets say they blocked your two attacks with Riryoku - you lose 4 cards, while in case of this card only 2.
Bee is better because it's a reusable effect that can attack as well, also protectable with your other cards. Riryoku is easily stopped by an enemy controller, that's why no one runs it.