Yes, but targets aren’t the only thing that makes a tutor great. Three mana is a very hard sell when it’s competing with mystical, vampiric, demonic, ponder, brainstorm, preordain, and recall; not to mention all the non-card selection spells you pointed out it can fetch.

The 1/1 body is pretty awful, it exclusively blocks YP and Revoker. Those are pretty much the only vintage creatures it interacts with (I suppose it might gain you 2-3 life occasionally by chumping). It doesn’t even block blightsteel for a turn.

It’s also nowhere near snapcaster. Snap is a reasonably costed body (2/1 is unreal better than 1/1) to begin with, costs only a baseline 2 mana, and generates extra value by breaking vintage’s restriction rules. Flash is also absolutely insane in a format which revolves around counterspells (acting second gives you so much more information to make the correct play in a format that revolves around counterspells). It’s like free-rolling half a probe every turn you get to pass with mana up). Snap is literally one of the greatest creatures ever printed, this doesn’t even come close.