Previously, it was card advantage and destroy opp strategy. It was too strong so that default occupying 4 positions in every elemental deck.
Now, it's 3 cost one for one trade, no card advantage, no interruptting opp's plan, although still with some benefit for library reduction and use card out of your class.
I think it is over-nurfed, although I hate the transference if I am not using elemental, I still like it to be played as the way to interfere the plan of your enemy at a critical time. It is a lot of fun.
My suggestion is:
Transference - Draw one card from your opponent's hand. You opponent draw a card. -- You can interfere opponent's plan but you do not gain card advantage.
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