This is the most disappointing mass reanimation spell I’ve ever seen.
Everything this could’ve been instead:
All cards from all graveyards
All cards from all opponent’s graveyards
All cards from target opponent’s graveyard
All creatures in all graveyards
All creatures in all opponent’s graveyards
Every single one of those would make the card extraordinarily better. Even the worst one of those could be justified in EDH/Commander. It wouldn’t be great in EDH, but it would be fringe justifiable.
As is, it’s just bad. Straight up bad. It is a slightly upgraded Revel of the Fallen God. And as far as I remember, Revel of the Fallen God was more or less never played. Maybe as filler in limited or in some kind of EDH token shenanigans deck.
In any format this card is playable, I’d rather have Rise of the Dark Realms every single time.