The specific play that sold me on it was discarding two copies to Archives (it was a calculated risk) and the Runner stealing both (0-0 -> 0-6), letting me draw 14 cards.
Ponder on that for just a moment. Seven cards is a lot of cards, but fourteen? That's... that's a lot more than a lot of cards.
At that point the Runner knew for sure a Punitive was coming up, so they moneyed up, but it wasn't enough.
Mandatory draw up to twenty cards.
Click one, Punitive Counterstrike, no boost. Runner spends half their credits to avoid 6 damage.
Click two, Punitive Counterstrike, no boost. Runner spends their remaining credits to avoid 6 damage.
Click three, Punitive Counterstrike, no boost. Runner is dismayed at the sight of the third Punitive.
Runner is eviscerated.
For a more serious discussion of why it's good, it's a 5/3 with a hugely swingy effect that happens regardless of who gets the agenda. Being able to put seven whole cards wherever you want them is a huge boon, and I'm sure with even the slightest bit of creativity, seasoned Jinteki players will be able to get loads of mileage out of this card.
Give this one a whirl sometime, just the once. You'll be glad you did.
Because the Runner doesn't steal the two agendas simultaneously, but rather one at a time. When the first is stolen, the Corp looks at the top 7 cards from R&D and draws them all, then does the same when the second is stolen. Because the top 7 cards were all drawn, the Corp looks at an entirely fresh set of 7 for the second Bacterial Programming.— StaticSky