If you compare this card to Carolyn Fern's Rational Thought this weakness is ridiculously soft. Yes, you can only heal the bystander with cards that heal Ally assets, but that's about it - the card neither blocks your ability (which Rational Thought does double), nor do you even need to heal it entirely. What's more, it gives you soak and another way to trigger the investigator ability!

I think cards that heal Ally assets need to go into a Vincent Lee deck anyway, since the whole group benefits from them.

Didn't research much into combos yet, but Protecting the Anirniq can get some value out of this card if you do choose to get rid of him, one way or another.

If you have Mandy backing you up, I think you can put two illicit assets in play (paying their costs), and activate each once.

Engineering a situation where you can benefit from both of these activations while sharing location with your fellow Mandy may not come up as often as I'd like to, but it would be a power play to remember even if it happened once per campaign.

I asked to FFG :

When an enemy with elusive attacks an investigator holding a Survival Knife(lvl 2 :Return to the Forgotten Age #2) ?

What happens after the knife reaction attack ?

1. If the enemy dies after the attack, I guess we doesn't resolve the enemy attack ?
2. If the enemy doesn't die, I understand that the enemy will disengage and move to another location. But should I resolve the attack and so apply damages to the investigator with the knife ? I guess no ?

They (Alex Werner) answered :

Say an elusive enemy initiates an attack against you, triggering the reaction ability on Survival Knife (L2). First, you resolve your attack against the enemy. If the enemy survives the attack, it moves via its elusive keyword, exhausts, then completes its attack against you (since that attack was already initiated). If the enemy is defeated by your attack, it does not complete its attack against you.

Ruling from Alex Werner, FFG Game Rules Specialist via the official rules question form:

Question: Hello! If during Mythos Phase, the treachery Watcher’s Grasp makes the Spectral Watcher “move, engage, and attack as if it were the enemy phase,” can I swing my Survival Knife (2) at him, which has a reaction trigger of “when an enemy attacks you during the enemy phase”?

Answer: No. Survival Knife (2)’s reaction ability can only be triggered during the enemy phase; Watcher’s Grasp does not create an “enemy phase.”

(So with treacheries like this, which cause enemies to attack "as if" it's the enemy phase, other cards will not "resolve with the altered game state in mind," in contradiction of the FAQ rules on "As If..." This raises the question of whether MJ's ruling about the enemy exhausting would also be invalidated.)

Ruling from Alex Werner, FFG Game Rules Specialist via the official rules question form:

Question: Hello! If during Mythos Phase, the treachery Watcher’s Grasp makes the Spectral Watcher “move, engage, and attack as if it were the enemy phase,” can I swing my Survival Knife (2) at him, which has a reaction trigger of “when an enemy attacks you during the enemy phase”?

Answer: No. Survival Knife (2)’s reaction ability can only be triggered during the enemy phase; Watcher’s Grasp does not create an “enemy phase.”

(So if enemies attack "as if" it's the enemy phase, Survival Knife cannot "resolve with the altered game state in mind," in contradiction of the FAQ rules on "As If...")