
Existing reviews for Stargazing understate its power. A comparison to Ward of Protection is in some ways fair, as both are low level Mystic events that mitigate the debilitating effects of the Mythos Phase, but they do so in very different ways, and are ultimately quite different beasts. User Bronze is right to point out that, where Ward protects your party from a particularly nasty treachery, such as Ancient Evils, Stargazing instead reduces the number of encounter cards you draw, replacing one of your next 11 encounter deck draws with The Stars are Right. Ward of Protection is a comparatively costly silver bullet to shut down a punishing treachery, and Stargazing is all-round Mythos Phase protection and fantastic value proposition. I think it is ultimately clear that Stargazing has a place in more decks than Ward.
User AquaDrehz rightly points out that the action economy for Stargazing is exceptionally favourable. You draw one fewer encounter card, which saves you whatever cost you would have spent dealing with that. This is a variable reward, but while some encounter cards can be shrugged off, others (e.g. Frozen in Fear) can eat several actions or outright threaten to defeat a vulnerable investigator (e.g. Rotting Remains). Many enemies you draw will do both! Preventing just a single encounter draw can be a substantial action advantage, but on top of that, The Stars are Right makes Stargazing effective action economy too. You trade an action and a card for an action, a card, and a resource. That might not sound amazing, but the ability to move actions from one turn to another is often useful, and The Stars are Right can grant any investigator the reward. Stargazing is a bit like an Easy Mark in that it replaces itself and grants a meager resource benefit, but it also lowers the threat of the encounter deck and re-gifts the action spent to play it. This is incredible value!
The catch is that the reward comes later, and is only guaranteed while there are enough encounter deck draws left before the end of the scenario. In a 2-player game, you are guaranteed to draw The Stars are Right by the 6th round following your playing Stargazing. That is a while to wait for your reward, and you will also have to beware of effects that shuffle the encounter deck, which could put The Stars are Right completely out of reach. These effects usually come from advancing agendas, and you can play around them in many of the scenarios where they come up. While Stargazing clearly has a larger window with more players and in longer scenarios, most scenarios have plenty of time to Stargaze, and you won't hate missing it in your opening hand as much as the Tarot assets. In short, Stargazing's conditions are not as restrictive as you might have thought. Solo play is really where that condition becomes truly cumbersome as 11 rounds is too long to wait.
While playing through Return to Path to Carcosa, I occasionally found myself playing Stargazing even when the team weren't totally guaranteed to draw The Stars are Right due to the encounter deck shuffling or the scenario ending before we could draw 11 more cards from it. The value you gain from drawing The Stars are Right is so great that it is sometimes even worth gambling on! It also just feels incredibly good to draw something actually positive and helpful from the encounter deck, which usually has you reaching gingerly across the table for whatever punishment the mythos has in store for you. Stargazing is going to be a staple of my Mystic decks for the foreseeable future.. which is kind of fun to say given that its Augury traited!