That's because the ability checks the creature as it last existed on the battlefield, and it still had those counters on it at that point
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However, it gives you a chance to perform the deadliest action in any TCG
And you may have already noticed that it curves out perfectly with a 1- or 2-mana unblockable creature, your commander on three, and then a ninjutsu-d Eldrazi or Phyrexian Praetor on four
While the game has really built around super-powerful GX and V creatures in recent years, theres still a need for pre-evolutions and useful bench abilities from time to time, and one more way to search for them is handy
Also, there are a couple of games: the Licensed Game Kitchen Carnage (which also has HD and Lite versions), Splatter Up