And that's my core issue with the spell. Sure, any one of its functions isn't that much different than other abilities. But it's a single-stop-shop to do a good chunk of multiple different abilities, most of which come online at higher levels and are (in a sane build) mutually exclusive. If you're a Rune Knight 7, it's hard(er) to have the ability to cast shield a lot. Or use any of the other mentioned abilities. Three levels in Lore Bard (ok more, if you actually want to use it frequently) gets you a weaker Cutting Words (since dice scales with class level) and requires a decent CHA, which is expensive. And bards don't get (natively) shield.
Silvery Barbs? Does a fair chunk of all those abilities...in a 1st level spell that can be gotten via a feat or at most a single-level dip. And you can have shield and silvery barbs.
Plus it does things that the other abilities just flat can't do (you get both the anti-save ability and giving advantage to someone else for a single reaction; shield can't be used on attacks against other people). Oh, and the native access includes classes (cough bard, wizard) who just don't need the extra help.
To me, that doesn't seem reasonable.