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These are all true of the card and stop him from being a real power house or a mainstay in any archetype but they are not sufficient to render him unworthy of an A cube slot

If Magicat is sent to the graveyard for the synchro summon of a spellcaster monster, you can put any spell card from your graveyard to the top of the deck meaning you can use it all over again next turn

Murders at Karlov Manor introduced the first green card with the relentless ability and the first one to make tokens

Yes, after a spell rebounds it resolves and goes to the graveyard

It is exactly the kind of old card, new power level treatment that nostalgia driven collectors and competitive players both love to see