The consistency doesn't make up for the complete lack of power. I had some Classic card comparisons in my original post that were better or very comparable and none of them are played at all. All of them are underpowered cards, except the Harvest Golem which holds it down in Arena. Yet even the Harvest Golem isn't played regularly, it's not even played in constructed mech decks.
When something gets good trades with a Shredder, like a 3/2 killing the first half, and you get a crap minion for the death rattle, like a 1/1, it sucks. This card is worse than that situation, because now the first half of your 4 drop doesn't trade up. With only 2 attack instead of 4, it allows even 3 drops to survive trading and clear the death rattle.