I have also had the same reservations as of late. I feel it isn't a card that is fully utilized in decks that run a fair share of enhancements (aka hand clog), such as balanced and defensive heavy decks. However it does have applications outside of hand advantage, most notably soul gen.
I agree with your assessment on Falling Away. Falling Away and Goys are similar in respect that one becomes dead after the other is drawn (and the fact they are what I consider tier 2, perhaps even tier 3 doms), but I believe Falling Away has the slight advantage in regards to the fact it is always a live card when your opponent doesn't play Goys, whereas Goys is a wasted card slot when your opponent does not play Falling Away.