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Its ability to mess with the opponents mana even got the card preemptively banned in Historic

Thoughtseize Price at Release $30 Predicted Price $20-$30 Current Price $20 Considering how many decks this sees play in across all formats, I doubt Thoughtseize will drop much below $20, even at set rotation

Its only drawback is, once again, the fact that the effect is tied to a creature that needs to tap to activate

Because nobody gets priority, this means not even state-based actions can happen before replacement effects modify an action

This makes it a rather popular ability, thats especially useful at protecting creatures