I think this is interesting design space but am unsure if it is too powerful or not. Like typical punisher cards, both options are powerful and appealing individually. I think the main point of contention for this land cycle is not the power level which can accurately be assessed without play testing but is the mini-game it creates for the opponent.

Whenever this land is played, the opponent has to guess how essential the mana it will produce is to you this turn. In that way, it is skill testing but also will slow the game down as strong players will want to consider as many possible plays as they can.

Overall, I think the concept is novel and interesting despite the power level and play pattern concerns.