I've been dissapointed by Pteramander. It just hasn't pulled its weight.
First, it's a pretty narrow card. You need to run a pretty large number of instant and sorceries for it to be good and that's a pretty stiff requirement right now. Magic is increasingly creature-based so if you want to run instant-matter cards, you must draft for it.
Second, it's a tempo card. You are only going to play it if a 1/1 flyer is fine to you. Otherwise, you will just play whatever control creature you like at a higher mana cost.
So it's a tempo card. But do tempo decks really want it? Tempo decks, by definition, try to win before the opponent and will sacrifice long-term power to win earlier. But Pteramander does the opposite! It's a very weak card early on and only becomes stronger when the game has advanced. So it's actually kind of backwards.
In practice, it's a card that it's bad at your deck's main goal and becomes good when you are weaker. That's kind of shaky and it all comes crashing down when you least want it to. If you activate and your opponent kills it in response, you lose a massive amount of tempo. If your opponent isn't on its back feet in the early game, it's useless. If you cannot attack with a 1/1 flyer, it's a paper weight.
I just don't think the card works.