This will, presumably, have 7 mana-sources of yours tapped down, meaning it will bleed no less than 7 points every turn cycle. More likely, this holds your opponent back for a turn (blocking 7+ lands and a pack of creatures you wanted to hold off, 13+ permanents doesn't seem unreasonable), holds you back for a turn, and then breaks on your opponent's second turn. If I'm reading right, it will still block all untapping even if it only has 1 counter left, so what you've basically done is cast a 7 mana "Time walk, but your opponent draws 2"... at least until turn-by0turn value drips come into play, like Planeswalkers. Seems good if you can math it to get that result.
Yes, it will, and yes, this is one of the central considered play patterns, although of course you have to plan for, for example, the stasis player sacrificing all their lands and beating down with vigilance which should work for about 3-4 turns