Limited likes this just for being a 3/3 flier
for five. The ability to make your whole team
shrug off removal spells for a turn is just
gravy. But in most other formats, it's not very
good gravy. Three mana to counter a kill spell
is nice, but do you really care that it gives
blanket protection to all your creatures? If
your opponent has more removal spells to try and
hit your creatures with this turn, couldn't he
play them in response to the ability? And
Constructed expects more for five mana than a
3/3 flier with a 3-mana reactive ability.
A 3/3 flying creature for five mana usually
suggests draft and sealed play, but the
activated ability makes it a little more
interesting. Still, when you need to protect
multiple creatures from something, it's usually
something that shroud wouldn't protect them from
anyway. In the aforementioned limited games, the
Mystics' ability basically means that they'll be
the first creature targeted by just about any
spells - preferably while you're tapped out from
playing them.