And yet young wolf sucks?
Weird
I think thats maybe more of an oversimplification. Its a real card if your threats and answers are playing a meta game of rocks, papers, scissors with edict effects being part of that equation. Any of those guys became great in that instance, as threats that run support for more critical threats; and very important if they are protecting hexproof, shroud, or regenerating threats you want to warp the game around.
In a more mundane world of efficent threat vs. efficent answer, perhaps with some sac. effects tossed in, the 2/2 body it leaves behind is just very marginal to the point where it almost feels like it never had undying in the first place. Doomed traveler, on the other hand, gives you a token with evasion, which not only is a better attacker, but a better blocker as well, and is in the same color as other token strategies.
Its funny you mentioned it, because I just played against a G/B modern budget deck that was running young wolf, and all that YW did was work as a chump blocker, effectively doing nothing, and being completly incapable of exerting any kind of pressure. However, if I was having to mix my lightning bolts with stuff like diabolic edicts or chainer's edicts, rather than terminates and murderous cuts, you can imagine how amazing the card have been as a tool to protect their tasigurs or anglers.
Sure, traveler wouldn't have been amazing in that spot either, but at least spirit tokens can fly over a young pyro or an angler, or can block a delver.