this card is bugged, it does not Return back card to the hand during the end phase . lot of tea "standby' deck use this card. especially during kc cup.
It cannot negate its own effect, since the effect exempt Spirit monsters, which Amano-Iwato itself is.
The correct answer, is that Duel Standby prevent monster effect from activating on the first turn, so its effect that returns itself to the hand on the turn it is Normal Summoned, does not activate, thus it permanently stays on the field.
It's the skill that is broken, not the card. Only Tea with Duel Standby runs this card. Just like no one plays Cup of Ace except Sartorius with Master of Destiny
Well yeah, that's a different case. In that case whether Cup of Ace lets you draw or lets your opponent draw barely matters, you draw you get more key cards, opponent draw then it's easier to mill them to death.