I'm cautiously intrigued. The existence of Sword Cane, Scrying Mirror, the new and improved Chthonian Stone, and the classic Grotesque Statue is going to make a two-handed asset a hard sell. Hand slots are in higher and higher demand these days for this faction. But if you're a Mystic who doesn't mind getting their hands dirty, this card is a contender.
The peak performance of this card is easy enough to spot: fill all your arcane slots and you get an unlimited +3 , 2 damage attack. Compare that to any other level 0 weapon--it's just bonkers good. For laughs, throw in Familiar Spirit to crank it up to +4. Or if you're an absolute clown, and have access to Bandolier, put a Sign Magick or Book of Shadows in your free hand for a +5 (or both/double for +6 with the upgraded Bandolier, plus a bonus +1 !). Or with access, use Arcane Enlightenment to hold Book of Shadows, then use that additional arcane slot to hold another--okay, you get the idea.
Meme builds aside...the big catch is the setup cost. Nothing we haven't seen here--it's an asset-that-lets-you-hold-more-assets which also gets-stronger-with-other-assets. And so this card suffers under the same dearth of efficiency suffered by all such cards. Say you're going for the bare minimum of getting the damage bonus.
First and foremost, the resource cost: the staff itself costs 3. I imagine you'll pretty much always want to play an investigation spell alongside, which will cost 3/3, 4/4, or 5. And with that, we've already ruled out a turn one setup without also having some economy in your opening hand. Next you may want an evasion spell to complete your trifecta of tested actions--that's another 2/2 or 3/3. Uncage the Soul is a big help for more expensive spells, but there are leaner alternatives. Alchemical Transmutation is cheap, and will help to cover the cost. Scrying is a nice bargain too.
For both of these issues delivers some decent out-of-faction support through Ever Vigilant. In fact, I'd say that Dragon Pole is barely playable without it. It's almost as if this card was designed with a certain long-awaited / Martial Artist in mind. Cultists, nuns, or zealous chefs may be equally interested. Perhaps the clowning with Bandolier is actually viable?
My mind also turned to Akachi Onyele upon seeing this card. With her decent and her love of spell assets, as long as she can address the setup issues, she could go full battlemage with this!
All things considered, if you want to get the most out of this card, you'll need to build around Dragon Pole like you'd build a road around a sacred thousand year-old tree. I prefer to see that as an opportunity rather than a problem, though I imagine most traditional Mystics would rather stick to 2x of a standard attack spell. Of course for all we know, there will be more support for this card once the cycle is released. Looking forward to it!