The biggest danger is that almost every deck sideboards Karn, rather than that Karn just beats everyone, and I think theres a good chance that wouldnt force them to ban Karn, although theres a small chance that that would push the price of Karn high enough to chase some people out of the format.
Red also has some access to Wheel of Fortune type effects so like blue it can have limited card quality discard effects
Six mana to remove up to three creatures from the game is a steal, even if it leaves behind a few small bodies on your opponents boards
This has been compared to adding a free Mystical Tutor to every fetchland starting on Turn 4, and while it doesnt quite do that, because it cant find a card you havent already gotten out of your library, it actually does so much more than that
With this in mind, its little wonder this card is mostly seeing play in Spider-Man-themed decks right now