I love the design! I just wish (for my selfish purposes) that either the second mode or the base rate was cheaper. I don't think it would break anything (not even limited) but 4 Mana to reanimate 2 small creatures is a bit much.In any case, a couple of designs I actually kinda like:
Lively Dirge —
Sorcery (u)
Spree
+ — Search your library for a card, put it into your graveyard, then shuffle.
+ — Return up to two creature cards with a total mana value of 4 or less from your graveyard to the battlefield.
What an interesting card.
As for the set itself, I like it better than MKM but not by that much. Everyone is still wearing hats and a lot of the other sentiments resonate with me as well. I liked having a handful of goofy references throughout a set that would add a bit levity to it but it's not for me if they try so hard to make half the cards into puns of various sorts.