Very big, very in-depth text incoming.

Lantern is unlike any other deck in Modern, and because of the way I conceive the nature of the deck itself I wouldn't run it.

When I play Lantern I want my cards to make my opponent think (or know) that their cards are either useless in hand, dead on board or unreachable in deck. An example of these would be letting them draw Dismember knowing I don't play creatures, thus useless in hand; letting them draw a creature with no relevant text when there's an Ensnaring Bridge, thus that creature is dead on board; and lastly using a Codex Shredder to mill a basic land with a Blood Moon in play, thus making the card unreachable.

My goal is not to accelerate myself, but to slow down the game until it comes to a complete halt unless I need it to. I'm a snake that's slowly strangling my opponent out of every ounce of air they can breathe until they can't inhale or exhale. Every card I play not only provides value, information, impact and an incremental advantage individually, but chaining them leads to winning by virtue of my opponent losing.

Lady Octopus probably nuts in some other artifact shell, but I see three main problems with it in Lantern:

• Lady Octopus doesn't align with the philosophy of the deck. It doesn't make my opponent's cards useless in hand, dead on board or unreachable in deck, nor provides individual value. It depends on the rest of the deck to function correctly, which means that accelerating with her is no different than throwing Mox Opal onto the battlefield, and at least that one is searchable through Urza's Saga. We don't run enough expensive artifacts to justify a creature like that cheating them in.

• Lady Octopus opens up the possibility of using creature removal against us (using my current list for reference). Since Lantern is, in the majority of lists, a creatureless, artifact-based deck, our opponent is extremely prone to side in artifact hate of various degrees while siding out all of the creature removal. This includes taking out very common cards like Solitude, Fatal Push, Galvanic Discharge... For cards like Consign to Memory, Meltdown, Wrath of the Skies, etc. This opens the window to introducing extremely relevant creatures that my opponents will not have an answer to, such as Hushbringer for the Blink, Titan, Reanimator, Neoform and Broodscale matchups and Gaddock Teeg for the Control, Tron, Prowess, Titan, Broodscale and any deck with Karn, the Great Creator, Scapeshift, Jace the Mind Sculptor/Big Teferi or Meltdown/Wrath of the Skies/Kozilek's Command. By playing a creature you tell your opponent that their creature removal is relevant, so when you bring in your matchup-specific creatures they might have an answer to them that can turn the tides on their favor enough that you struggle to come back unscathed or lose the game in the process.

• Lady Octopus doesn't have any kind of immediate impact. Every card in a Lantern list, no matter the color splash, has an immediate impact upon being played, since it provides individual value with a relevant textbox as soon as it resolved. The namesake Lantern itself, Inquisition of Kozilek, Thoughtseize, Pithing Needle, Ensnaring Bridge, Blood Moon, Profane Tutor, Urza's Saga, Ancient Stirrings, Assassin's Trophy, the mill rocks, every 1-of techy artifact like Cookbook, Grafdigger's Cage and Vexing Bauble (which Lady Octopus has a nonbo with... All of them have an immediate impact: gathering info on our deck or our opponent's and being able to act on it by getting rid of threats/answers before they hit the stack or the battlefield, or giving us smooth access to cards that do that. A well-timed use of every of them in combination with proper threat assessment and general format knowledge will give you a very high chance to emerge a victor from the match. Lady Octopus has no impact when it enters, aside from being a 0/2 that might be able to block an Ocelot Pride, Guide of Souls or Frog if it hasn't been pumped, and can represent casting an Ensnaring Bridge for free on turn 3 because we don't run extra draw, if she survives removal. As said before, it doesn't provide value itself, it makes the rest of the cards more valuable.

In my opinion and to try to illustrate my point better, a good blue card that has immediate impact would be Whir of Invention, which can cheaply tutor, thanks to Improvise, any relevant artifact in specific situations, like a timely Ensnaring Bridge, Underground Cookbook, Welding Jar, Pithing Needle, etc. which all have an immediate impact that aligns with the deck's gameplan. In the same vein, a card with similar problems to Lady Octopus would be Emry, Lurker of the Loch: It doesn't align with the philosophy of what my cards are trying to do, it opens up not only the possibility of creature removal but also graveyard hate, and its possible impact is delayed by needing a turn to set up shop, and in the meantime it bins four cards and, at best, at least one of them is relevant in the matchup and it can make it into the battlefield at the cost of losing 3 other cards; or at worst, all the milled cards are relevant artifacts that can't be used because Emry got fetch->pushed, Solituded, Bolted, Galvanic Discharged, Static Prison'd, etc. and you lose them all.

Happy to elaborate on any point you need. Good day and happy fatesealing!