I have to admit that the first thing my eyeballs did was go straight to the text box... and then I began reading off the abilities.
- "+1 to draw a card, then discard" - Okay... not bad, but not great. I'm a big fan of graveyard strategies, so this first ability is what I like to see. But what else can he do?
- "-4 to Storm Seeker someone's face." - What? That's it? This can't be it, can it? I mean, it can potentially do no damage at all and Tibalt can't even protect himself. And then it hits me. My eyes go up top to the casting cost.
- "Double red." - Whoa. Wait. The first 2cc planeswalker, ever? I like it. I think?
...and yet I still think he has a lot of potential.
If you use his first ability once and his second ability once, dealing at least 3+ damage, I think he's done his job. For two mana, he doesn't need to do much for him to be a value card. Like I said, I still need some time to wrap my brain around him, but my first impression is a good one.
The first thing I would do with Tibalt is stick a single copy of him into any deck that runs 4x Faithless Looting. His effect would be redundant and you'll be able to see just how good/bad he really is. Frites Decks, I'm looking at you. From there you have to consider him as a Sun Titan target and see if there's anything worth while there. Again, Frites Decks, I'm still looking at you. Unlike Faithless Looting, Tibalt is a permanent which can be fetched over and over and over.
I think this is the way to go. Someone get on it.
EDIT: I didn't see the "random" discard. That kind of colors him differently, but I think he's still worth experimenting with.