In many ways, Brood Butcher is similar to an uncommon creature from Ravnica: City of Guilds called Drooling Groodion. The Groodion is a 4/3 creature with a 3BBG casting cost. His ability costs 2BG, but in addition to giving a creature -2/-2, you also get to give a creature +2/+2. It would seem to have been the inspiration for this card.
As it is, Brood Butcher is not a bad creature. Most players would’ve preferred something more like Groodion. Still, having a cheaper ability that can simply pick off opponents’ creatures seems okay. It's not a card bound to see much Standard play.
On the other hand, there are a few Commander decks who don't mind an additional sacrifice engine that are happy to have the Butcher around, such as Savra, Queen of the Golgari, Mazirek, Kraul Death Priest, and most especially Meren of Clan Nel Toth. It's not a bad card in terms of design. But, when it comes to building decks, there are just better options, even at 5 mana for Eldrazi focused builds.