The spell does quite a bit, it defeats many illusion reveals the true nature of
polymorphed creatures and other transmuted beings. You can also see into the Ethereal plane. It has very many utility uses and is quite powerful versus illusionists. It has a material cost so you don't just whip it out at any time without thought or care.

Typically I don't care about material components unless it has a listed cost, But the spell component pouch covers that Or is some how rare. If a spell said something like the claw from a dragon or the blood of a lycanthrope. I'd have to ask how he got such a thing.

But say a pinch of salt and a grasshopper leg, thats just flavor.