Blood in Watering Can is boring in the sense that Raise Dead variants aren't that exciting. It even has a fairly close analogue in
Phyrexian Reclamation, a card that hardly excites anyone. It can easily give you far more triggers than you could ever use and lends itself to repetitive board states. It's not hard at all to ping yourself on your turn so they'll have to cost it as such.
And the card seems bland from a flavor perspective; it's just an abstract intersection of abilities that will have to be papered over.
Whispering Madness does just fine and isn't broken. Chandra Ablaze too if you like.
There are many effects that can have cool synergies with it. Mindslicer, Smallpox, Anvil of Bogardan... Syphon Mind in multiplayer...