Wizardcycling is a variant of the cycling keyword. You can pay its cost and discard the card from your hand to search your library for a Wizard creature card, reveal it, put it into your hand, then shuffle. It's like a tutor stapled onto an otherwise unexciting card, letting you trade a dead draw for a specific Wizard you need.
The nuance people miss: wizardcycling is an activated ability that works from your hand, and like all cycling, activating it isn't casting the card—so effects that counter spells or trigger on casting won't stop it. However, abilities that trigger "whenever you cycle a card" do see it. Also, you must shuffle even if you find nothing, and you can choose not to grab a card.
In Commander, it's tribal consistency for Wizard decks—turning flood into the exact Wizard (like a combo piece or commander-synergy creature) you want.