It's a Rune Scared Demon for 1 less mana but instead of a tutor it's a mini fact or fiction. I wonder if there are situations where instead of just getting timewalk I could set up some graveyard shenanigans that would pay off better with this thing.

Being 1 easier to cast is a thing too, but it feels very corner case considering you are not hard casting it in oath 99% of the time.

I think Rune Scar is better because you just get Time Walk.

With this guy your Time Walk costs 5 mana, assuming you get Will + Walk.

Though I suppose if you get Noxious Revival + Walk it’s exactly the same as Rune Scar with -1 net card

Could we do a burning oath idea where it gets something like past in flames and walk to set up the combo with the second run?

You could play this as your only creature and get past in flames and lotus, then (hopefully) mill a lot and cast your graveyard.

Recent oath lists playing rune-scarred demon like this one have mostly been using it to set up a kill using underworld breach. Getting two pieces of the combo seems pretty good and can be fairly resilient letting you make a pile from breach, lotus, brain freeze or sevinne's reclamation depending on what you need/what you milled over with oath.