A bag by itself isn't a trash can
With some careful deck building (mostly playing some big card-draw spells you can cycle into with Unpredictable Cyclone to make sure you always have some cycling cards in hand), you should be able to mostly play your entire deck in a single turn by cycling, casting stuff (including card-draw spells) for free with Unpredictable Cyclone, drawing into more cycling cards, and cycling them to trigger Unpredictable Cyclone against and again until you've essentially cast your entire deck
As a reanimate target it is a little too fair
Some effects allow you to move loyalty counters, but the rules text of the card will be explicit about whether you can do this or not
This triggers Sidisi, netting you another 2/2, triggering Path of Discovery, and so on
And, if you didn't, feel free to skip ahead a paragraph because this one contains a massive spoiler for Final Fantasy VII