Yeah, you need a lot of low-CMC (ideally free) cards or cost reducers to make it work: Cloud of Faeries/Snap/Frantic Search, Manamorphose, Phyrexian mana, Gush etc
In Modern it's great with Goblin Electromancer: two mana -> Ritual -> 4 mana -> Haze + buyback, Haze again which was usually...