This card is either a Lightning Bolt or a Lava Axe and that makes it great. Using this on first turn to target something important like a Birds of Paradise or a Dark Supplicant is always a great use since your opponent might just be willing to take the 5 damage in order to save the creature. Often you can use this card to put your opponent into an unwinable situation. Usually it will be either let you kill them through combat damage by bolting a creature or kill them through the Lava Axe to save the creature. The one problem with this card is that it does allow for the choice, so if you need to kill a creature, your opponent might just take the damage instead. It also won't kill something like a Hypnox.
Pros: Lightning Bolt or Lava Axe, quandary for opponent
Cons: Gives opponent choice, doesn't kill big things