Pointed Discussion

Dreadwing is a nasty little guy. Turn one, he's another 1/1. Turn 2, he's getting progressively worse. Turn three, provided your mana base is fleshed out, he can pack a wallop. Attacking with a flying 4/1 on turn 3 isn't half bad at all, and the more mana, the better, as you can keep him growing as the game progresses.

a great early game basher..pump then equip it with unscythe, killer of kings..boom!!!

It has the longer-term usefulness that I look for in a one-mana creature. I love the artwork and the flavour text really deepens the concept of the card. I rate it highly.

Great little 1/1 for one mana. Has a great ability that is extremely useful even if you draw him late in the game.

Great for Zombie decks too.

Dreadwing + Death Baron + Cemetary Reaper + ability...

Whats that he's 7/3 with flying and deathtouch?

He is really handy.

Morty

You folks seem to be overrating him. He's a 1/1 for 1. Ignoring his ability for a second, lets look at the 1 drop creatures that just came out with Zendikar:

Steppe Lynx - easily capable of being a 4/5 on turn 2 without even using mana.
Cosi's Trickster - the worst of the 5 colours, but still able to be boosted without mana (and either shuts down fetchlands or gets rewarded for the opponent using them)
Vampire Lacerator/Guul Draz Vampire - the first is a 2/2 for 1, meaning on its strength alone it will outdo its drawback. Guul Draz starts off weak, but gets very strong with good evasion mid game.
Goblin Guide - 2/2 with haste. Its drawback isn't even that bad - if your opponent is playing second and you give them a land, unless they can also use a 1 drop they have to discard. If you don't give them land on turns, you see what they're topdecking.
Scythe Tiger - 3/2 with shroud. Sacrificing a land is a massive disadvantage, but in limited shroud can make it a very nasty proposition.
Scute Mob - early game, pretty ordinary. Mid to late game? Destroy creature spell please.

A 1/1 for 1 isn't appealing, and given that until late in the game the activated ability is going to tie down a lot of your mana (not to mention that even after using it it's still destroyable by 1 single damage) it doesn't seem worthwhile at all.

@ JaxsonBateman

Only one of those is black, they aren't a good comparison.

And you also say "ignoring this ability" and talk about the abilities of every other card?

Lastly Dreadwing is the only one of the cards named with Evasion and pump, saying "this card is a 1/1 for 1" is just saying "this isn't a bad card when you play it" and its not, but it also is a completely different card, high damage and 'unblockability'. Dreagwing is so unique, I doubt you could find a card that is very similar.

1 cost
Has a pump
Can evade in some way when attacking

The only problem with this guy right now is that he needs three colours to make him even remotely better than Diregraf Ghoul. You'll likely be playing blue with zombies in modern right now, if only for Diregraf Captain or Grimgrin Corpse Born, but red as well?

The colors really limit this guy...

I could see him being used in a zombie deck. If you have an expensive land base to back him up that is.

At first I thought 1 drop 1/1 with almost firebreathing? Pretty good. But then I was thinking, and the colors make that much more complicated

Don't forget that the ability can be used multiple times. Three mana for three power makes it effectively firebreathing if your colour balance is right. Chuck on the evasion and base efficiency of the creature and this is a solid one drop. (Not super spectacular, but capable of sitting around and demanding to be answered lest he gank your opponent's last few points of life by himself once everything else is gone)