I don't get why this card is that good... Ultimate Providence / Divine Wrath need a discard, but they can replace Forbidden Chalice, especially because the targeted monster is destroyed! In a 20 card deck, I don't see any need of this one.
If you negate Gandora/Spirit's effect of going to graveyard/return to hand, after that turn they stay permanently on the field, unless of course it is destroyed by your opponent.
The reason why is because this card is multi purpose, much like Econ, thats why it is flexible compared to divine wrath. It can be used for ur own monsters, or to save yourself.