This is one of the weirdest lands ever printed, no doubt. It is also one of the most powerful lands ever printed.
Since its release in Modern Horizons 2, the Saga has made its way into many existing decks while also creating new ones, such as Asmo Food. Urza’s Saga is a land, an enchantment, a token-maker and an artifact-tutor all at once, creating a package that is difficult to ignore and hard to play against.
I remember hearing a story about the card’s design process. Sam Black, who was part of the team creating the card, said that they had not enough opportunity to test the card in real life due to Covid-19 restrictions and thus there was not enough time spent on making sure the card is balanced.
Once you see the card in action, this story seems very plausible. There are a number of things R&D could have done differently to weaken the card a little bit, for example it not being able to make a token on the third chapter.
Interestingly, however, the card did not completely warp the format, and it is not played in any of the three best decks in the format! This shows that the card is not as problematic as many make it out to be and only time will tell if anyone finds an innovative way of using the Saga in a way that might bring it closer to a ban. For now, however, the land seems fine for Modern.