Tokebi's TA is useful because when you level a land that is on at least a 2-chain, that land becomes worth more than the G you put into it. Invest a little, use Tokebi to convert the land back to G, reinvest the profit... you get the idea.
Tokebi is in Armageddon to snatch away the G sitting on the empty lands after all those mass damage spells remove the lands' occupants. Move Tokebi onto the empty and sweep! G in your hand, not in your opponent's!
The Hand has its uses, and is a great deterrent just sitting in your hand. I wouldn't say that people dislike it... it's just that there are so many options for doing that job (getting rid of an opponent's item), and most of them are cheaper than The Hand and/or more versatile. I suppose it's all down to your play style... I've seen The Hand used very effectively as well.
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