I guess, but it's not nearly as versitile and it actually has drawbacks, not to mention your opponent gets to see what card you get so if you pull a Mirror Force or Honest they'll be ready, or they could even mind crush you. Plus it's not even that great of a topdeck since any traps you get with it will be known to the opponent, and any powerful monsters you get can't be special summoned. Normally draw cards are used to speed up decks, but the no SS and one PoD per turn limitations slow things down to balance out the card.
Obviously it's a good card, but it's not game breaking like PoG.