
There's something to be said for the simple cards. Tentacle mouth guy is one such card.
Let's look at the numbers: 2 resources for 4 charges and a single hand slot, plus a ? icon, for 4xp. All tasty apart from that xp cost, both because it limits which investigators have access to the statue, as well as being a hefty investment in itself. That said, cards don't at the moment tax hand slots particularly, so adding bonus hand items isn't particularly punishing. Moreover, while in a scenario, paying 2 for 4 'double' draws is incredible value. As with all abilities, it's optional, so you can pick which tests you want to use it (before drawing the chaos token). And, by way of comparison, consider Wendy's 'redraw' ability, which, yes, is theoretically limitless, but costs a card for each redraw and, crucially, does not allow a choice between the two tokens (the second replaces the first - and could be the very same as the first).
One simply shouldn't underestimate the potency of choosing to double dip into the chaos bag. Even on tests where an investigator is feeling confident, being able to choose, for example, a instead of a -1 to trigger further effects (such as Agnes's ability) or vice versa to avoid them is incredibly powerful - after all, the statue is in the same faction as spells, from Shrivelling to Blinding Light, which come with additional risks for non-numeric tokens. Choice is crucial here: a normal skill test requires an investigator to overcommit to aim to mitigate the vicissitudes of the chaos bag; an investigator with the grotesque statue can, in a pinch, give themselves options, and options = power.