You want something better for the higher cost, but as mentioned in our evaluation of Flotsam, doing so requires running a bunch of other bad cards, just to make this one slightly less bad
The first is a triggered ability: "When this permanent enters the battlefield, target player may search their library for a card named [name], reveal it, put it into their hand, then shuffle their library." Note that the target player searches their library (which may be affected by effects such as that of Stranglehold) and that the card they find is revealed, even though these words aren't included in the ability's reminder text
The good news is, all in all, the price increase of playing non-land cards of an additional color is relatively small, about $35 per deck
While not strictly ramp, it thins your deck and is much more likely to trigger when you have multiple opponents