Late-game, when everyone is looking to close out the game, then it seems fine
One possibility is to cast Apocalypse, a card that gets rid of everything, including your hand, leaving you only with Barren Glory, but that needs to be done on your upkeep, so there are options like Leyline of Anticipation or Emergence Zone to give these spells flash
But a decade later, Wizards would print Protean Hulk, which turned Flash into a Turn 1 win thanks to a convoluted loop of creatures that you can tutor up by using Flash to not just cheat the Protean Hulk into play but immediately sacrifice it, which was oddly an upside due to Protean Hulk's death trigger
On paper, it seems pretty balanced and self-restricting, for sure there won't be any oppressive card with this ability
You can do this to draw a card after your mana is set or in response to the massive recursion and graveyard (ab)use at the Commander table