I think it needs to be tweaked. I just checked it and it doenst work on walls or golems, or items being wielded by another monster. And when zapped at a metal chest it consumes the contents as well (unlike the wand of poly mechanic). I think it would be cooler if it worked on more items but had a chance to create a hostile golem as a balance. The increased functionality would make it a super desirable item. Maybe make it super rare or quest reward only as an offset.