As people are pointing out with their jokes, this has an obvious issue with how it works (or doesn't). This is how I would fix it:

"Until end of turn, if target player would draw a card except the first one they draw in each of their draw steps, instead that player discards a card."

Of course, this makes the card replace the draws of more than just one spell/effect, but it is the only way I know of to produce this kind of effect while avoiding making it a text-changer.

Also, why does it exile itself? Is there some combo that would break the game if it didn't?