It costs a single blue mana to cast. What does it do? It has all players play with the top card of their decks revealed. This doesn't sound all that exciting.
However, as an artifact with a similar effect has shown, knowing what the next draw would be can provide plenty of useful information. The difference between this and the Modern-playable Lantern of Insight, however, is that you can sacrifice the Lantern to shuffle a target library. Field of Dreams has no such extra ability.
Having such a similar effect, though, it would seem a few players thought it may have some potential and bought copies. Suddenly having such a low supply card see sudden interest, there was a buyout. It's actually a great card to sell if you happen to have any laying around and don't plan on using it.
The only format in which this could ever actually be good is the Old School Magic format. It's a format that only allows cards printed from Fallen Empires and before. Because of this, it's often called 93/94. Could there be a sort of Lantern control deck possible in that format using Field of Dreams as an alternate version? Who knows. Someone out there must be trying it.