One of the cards in my first starter deck I really liked: your opponent attacks (back then with a BEWD, today with some Envoy of something or a LV 7 or 8-monster, imagine that) and you smile because he just got an actually much stronger and hard-to-summon monster back to his hand.
But then, why not use Penguin Soldier? One more monster can be returned, you do not have to do this, you can return your own monsters back to your hand (for whatever reason, be it for Muka-Muka or a Sinister Serpent you want to discard now but had to put on the field for defense earlier or an Exodia piece that fell on the field

and so on), and you don't have to be attacked for this, you can also flip him during your turn.
WoI is DARK, and a fiend, so it will fit into these decks, as it is the desired monster type with a at least good effect, while Penguin is used in WATER-decks mainly.
The only not-deck-type-dependent advantages I see is 1. the higher DEF, which still only resists monsters up to Mechanical Chaser without help. Still better to have a WoI attacked with Dark Driceratops or a Fairy Meteot Crush monster than the Penguin, though. And 2. the effect not being a Flip-Effect, so Special Summoning in DEF position makes sense.
Fun to use. Concerning the many stronger and more versatile cards out there (who wants to wait until he's attacked to use an effect) and rarely more than 45 cards in a deck, and only 20 monsters among them, surely not for everydays use, but mainly for 1. fun or 2. fiend or 3. field control (2.+3.:where it fits best and where I only would play it, but in these WoI is a card worth being in the deck).