
Deciphered Reality is a staple card for my 4x Standard playgroup. It performs very well in about 70% of scenarios, and on Standard difficulty it's easy to ensure success for anything but autofail.
In most scenarios, it's not hard to have at least five revealed locations with clues on them, which makes this card worth 5 additional clues for 4 resources; great deal. But it also helps that the extra clues get pulled off other locations, which helps the team finish clearing a troublesome spot while letting the Seeker continue to gather a bunch from their current location.
In the scenarios where it works, it helps either save time and Move actions; or works like Seeking Answers to pickup clues without investigating dangerous locations; or helps advance the Act quickly by getting a burst of clues. In scenarios where it doesn't work... Well, yeah, it's a bad Perception.
This card feels like it's level 5 just to limit which investigators can take it; it's not a game-breaking must-have, but for my group, it's a powerful and pretty reliable event.