
Incredible value here.
1 resource for a 1/2 ally in play seems great already. A note on resources, they are not so easy to come by and decks loaded with assets and events are going to find it hard to play all those juicy cards. It's necessary therefore to pay attention to resource curve. Arcane initiate fits the resource curve requirement.
This enables card draw. In it's best scenario you've added a card to your hand and thinned the deck so you can draw more skills or assets. To maximize this effect you may wish to include 1/3 of your deck of spells (10 total spells). However, I don't think that's necessary. If you miss, no big deal as you can simply repeat it again next round. Spells will help 's through combat.
Finally we'll need to evaluate a doom token. I suspect that doom will be a big deal. So it will be necessary to investigate faster. I firmly believe Arcane Initiate provides self protection against additional doom.
... time will tell.