Compared to the original Ulamog, the Infinite Gyre, who destroyed one target permanent (not exiled) and had Annihilator 4, this is probably on par. The Annihilator effect, which forced your opponent to sacrifice 4 permanents upon Ulamog declaring an attack, seems better when it comes to board presence, but it’s usually only going to take two swings to essentially mill out an opponent. It makes something like Oblivion Sower look even better, as you would then get to play all those lands. Just by itself, though, this Ulamog exiles a third of an opponent’s library - which could likely end a game by exiling any hope an opponent has of coming back to deal with a 10/10 indestructible beater.
The big thing about this version of Ulamog, though, is that unlike past big Eldrazi, he doesn’t get shuffled back into the deck when he dies. This means, yes, he can be reanimated. He can come into play off of See the Unwritten. He can be ramped into with the Tron lands in Modern. This is about as Constructed playable as anyone could have hoped. Suddenly, Ingest looks pretty effective as a mechanic, as this guy is essentially Ingest 20 except combat damage doesn’t even have to be done!
As his flavor text suggests, this version of Ulamog truly is a force as voracious as time itself.