The more I look at this card, the more it intrigues me as a sideboard option in modern.
Firstly, it's cheap (cmc and budget), easy to deal with color wise, and splashable in almost any deck because of the color requirement/diversity.
Secondly, it hates on artifacts as well as instants and sorcs. With the rise of Whirza, making 0 and 1 drop artifacts harder to cast will buy you some much needed tempo. As it hates on traditional control mechanics (instant/sorc), it can be subbed in to slow down miracles, grixis control, etc.
Thirdly, it's got an "acceptable" protection mechanic, which doubles as tempo-hate against decks that rely on fast but solitary critters, like goyf, death's shadow, etc.
So, is this a card to consider for sideboard in modern?
The first thing to consider is its rival, Teferi, Time Raveler. Tereri hates on control like nobody's business, and also costs 3. However, it has to be run in decks that run white and blue, so it's less versatile in playability for the majority of decks. It is also an order of magnitude more expensive for the budget, so if that's a concern Teferi is out. Also, most decks that want to run Teferi already have it mainboarded, as it hates on control and has a tempo-material-removal abil.
All that being said, I don't think Teferi's presence actually limits the discussion on Dovin. In most decks where I can mainboard Teferi, I've already done so. Having the option to side in Dovin, that works FANTASTICALLY along side Teferi, still seems worth the consideration to me.
As an added bonus, dovin shuts down storm, so having it as a side option works for 3 decktypes (control, artifact, storm).
In addition, a 5 loyalty planeswalker for 3 that slows things down in general and can semi-protect itself seems like a recipe for card advantage to me. Coming in at 5 means it's not easily burnable, and can survive a decent string of attacks (especially with its stall ability), so all things considered it seems like at least a workable sideboard option.
Please hit me with your thoughts, I haven't made up my mind about it yet, just come to the conclusion that more thought is warranted.