You can do this to draw a card after your mana is set or in response to the massive recursion and graveyard (ab)use at the Commander table
Essentially its a pay to win game and only in a very tempered group that sticks to formats and limiting budget does the game become reasonably fun
Sacrifice it at the beginning of the next end step if it has mana value 3 or less
But a decade later, Wizards would print Protean Hulk, which turned Flash into a Turn 1 win thanks to a convoluted loop of creatures that you can tutor up by using Flash to not just cheat the Protean Hulk into play but immediately sacrifice it, which was oddly an upside due to Protean Hulk's death trigger
One possibility is to cast Apocalypse, a card that gets rid of everything, including your hand, leaving you only with Barren Glory, but that needs to be done on your upkeep, so there are options like Leyline of Anticipation or Emergence Zone to give these spells flash