As this card's name hints, it was intended to be
a fixed version of Fastbond - one that gives you
extra lands at the cost of the rest of your
hand. Of course, if your hand is nothing but
lands, you're now six or seven turns ahead,
which puts you not only out of card disadvantage
territory but well into Contract from
Below-style advantage. That sounds like a pretty
glib judgment, but of course for most of Magic's
history there was no such thing as the Legacy
land deck, until Life from the Loam, Vesuva,
Dark Depths, and such made it so, and Manabond
was thus a niche card until relatively recently.
When you have to somehow both fill your deck
with enough lands to take advantage of Manabond,
and also include some cards to cast with so much
mana, it's very much more hit and miss.