What I hate most about her is that her tokens don't have any evasion. They should at least have Trample.
It gets countered by:
Master of Waves
Elspeth
Both of which are highly relevant. Basically, any token maker would shut it down, assuming she even gets to it.
So really, all she is a reusable Explore.
(Youare making me so sad with these art comments, guys, seriously.)
OK well, let's analyze it.
4 CMC, 2 loyalty - Kinda sucks, makes it less than Modern and Legacy playable. So from this vantage point, it's a standard PW. Could be pretty fun in EDH as well. That's fine.
Ability 1. What permanent are you scared of here? I guess it neuters Boros Reckoner's ability pretty good. Nightveil Specter too. Maybe something out there we don't know about yet? Right now, this looks like kind of a waste of an ability.
Ability 2. Explore. Awesome card. Would kind of suck to Drop her and Explore, bringing her down to one loyalty and near death. Maybe it's useful in a control build to do this?
Ability 3. You already kind of said it. Cool, but the lack of evasion makes it a pretty meatheaded ultimate. These things could be stopped by tripping over a rock. They trigger evolve, right? That's the UG mechanic from RTR block. So maybe it's good in an evolve deck, you know, triggering evolve every turn?
Honestly, right now, I'm not impressed. She's not awful, but she currently doesn't seem to have much of a home in standard. She's probably best used in EDH, where a reusable Explore could be fun, and you could neuter an opponent's commander.