If you usually draw simultaneously in Upkeep you may need to slow down a bit to play with this card correctly. Actual steps is drawing in player order (lead first, then clockwise).

For example if someone drawing this card goes the last, the other players all had already seen their Upkeep draw when deciding which pile to pick. If goes first, then other players do not yet perform their Upkeep draw until you finished picking the pile.

Playing correctly may matter with other Dilemma, cards with effects on draw, when you pick a pile with weakness like Amnesia, or you may draw the shuffled back weakness from unpicked piles.

The single worst card to take to an Arkham event, esp if you don't know the people in your table.

Can you imagine crafting a wonderful standalone deck for an event that relies on one or two key cards, only for someone you've never met to draw this card to and nerf your deck?

Ina 3 or 4 player game, this reads a bit like fast, look at 9 or 12 cards from the deck and pick one player to draw the 3/4 of them worst cards (because the cards aren't from your own deck they probably won't be optimal).

It actually compares pretty well even against Black Market (which itself is a very strong card). Compared to black market in a 3-4 investigator multiplayer game...

Pros
-Drawing cards is usually better than setting aside to use only for this turn
-Is free, black market costs 1 resource
-You get to look at 9 or 12 cards and pick from those, not just 5

Cons
-Drawing this in upkeep phase, you have to decide which pile before the mythos phase (black market happens at investigator phase when you have more info to decide better)
-Removing cards from your deck can rarely cripple your deck if it relies on key cards or combos
-You only get 3 or 4 cards instead of 5
-You cant use other investigator's card for combos

I think I'd play this in a 3 or 4 player game.
In a 1 or 2 player game, black market easily.
Or do both if you can/want, they're both good. More cards means more options, more icons for commit, more passed tests means more wins.

I think a lot of people know this but removing cards from the top of your deck is not usually considered a big detriment because you generally do not know what cards are coming up. As far as you the player is considered, a card removed from the top is the same as a card removed from the bottom, and possibly a card you would have never seen anyways (ignoring decks that cycle quickly).

2 xp card for a fast Old Book of Lore use/Eureka effect for each player, but you can't always control when it happens because it's a dilemma. That sounds expensive, but possibly justifiable.

But, you also get all of the weaknesses you don't choose back for free! And you remove all of the non-weakness cards (which you put in your deck, so you probably want them, with the possible exception of a few signature cards if you don't build your deck to use them) from the game instead of discarding. And the card is Survivor, which is the class who can recur things.

The deck-thinning means you probably don't want to recur it, so it's a single-use event for 2 xp, with drawbacks.