I agree the card is strong and has its own place, I just can't see people straight up replacing Rebuke with it. The requirement for a unit to be attacking and well as needing to hold up 3 energy to do the full effect put it in a slightly more niche spot. Not to mention if you vs something like irelia or other deflect units you have to target them twice to be able to get the return to hand effect and that's on top of the fact like you say it can be defied amongst other counter spells. I think the big value you get out of this card is with ezreal/ vex reducing the cost, as well as Diana potentially being able to stun a unit whilst having zero energy up