I like this guy way better in this deck than Merfolk Wayfinder.

Although he doesn't dig quite as deep, the Oracle has the potential to find you cards that are far better than lands, or maybe even just lands if that's what you need at the time. I can understand Wizards wanting to add flavour by giving Jace Merfolk in his deck, but the idea of having to send Jace's Mindseeker or Body Double or Spelltwine to the bottom of my library is just too upsetting to bear.

Keeping the second card out of your graveyard should help ward off Vraska's shenanigans a little, too.