TL;DR: You will routinely play this for 3 or 4 icons and be happy for it.
Don't underestimate this beute. Depending on your investigator, having just 2-3 cards in your hand isn't an unlikely scenario. If this is one of three cards in your hand when played, that means you're getting 3 icons. One of two cards, 4 icons. Last card, 5 icons.
3 icons is by no means bad for a skill card, if a 3 icon "Play only if you have 2 or less other cards in your hand" existed, people would play it. This is that card, and then some.
4 Icons for one card is terrific, and definitely and achievable play once or twice in a scenario.
5 Icons is the golden-egg-laying goose that you think you're picking this card for, but believe me, this is not going to happen a lot.
Wendy and Ashcan, with their card discard mechanics are the obvious optimal character to use this card with, thanks to their innate discard abilities, on the other hand if Last Chance doesn't look playable they can discard it for their abilities.