I'm still finding it hard to find anything wrong with making an easily splashable counter to cards that are already in 90% of decks. I don't remember the last time I played vs. a top-level player who didn't use Writ and/or Charms in T1 (unless they're testing experimental decks).
The problem is CwD was specifically made to counter Thaddeus, FBTNB, creeper, and territory class in enhacements. I think we can all agree that these things were out of countrol. The only fundamental problem with this card is that it stops many possible counter which is stuff crazy. So I guess a
counter was justified. However it's bad policy to make
hard counters to cards that were intended to unbreak the game because then you have essentially broken the game again. It's not as bad as if CwD was never made but it doesn't make good sense. I would have no problem with another counter to covenant with death but this one is too much. Some thing like LtC in site form would have been more appropriate.