If you have consistent and reliable bounce the Drake is vastly better than Vedalken Shackles as it is cheaper, safer, more permanent and allows for multiple steals all at the same time
Both of these are also included in Modern Horizons 3, but their fused version is the face of the Eldrazi Incursion precon deck
And if they discard cards to prevent life loss, its only upside to you
Its a good thing Lhugoyf wasnt printed with trample, or it would have eventually been restricted or even banned
A +1/+1 counter is just as effective at making a creature modified as a -1/-1 counter
As such, while missing out on a Street Wraith or Cursecatcher might be frustrating, by the numbers, the odds of this happening are fairly high