5how it plays
It pierces, which is unusual for a thrown consumable at this point in a run. One toss into a packed corridor connects with a line of enemies instead of stopping at the first, so it clears goblin waves and zombie crowds far better than a Shuriken does.
worth using?
Every throw is gone for good, and Presents hand them out in small piles once a year. That makes them an emergency stack rather than a weapon you build around. Keep them for an invasion that catches you underequipped, not for daily use.
They count as ranged damage now, so ranged armor and ranged accessories boost them. Anyone hoarding presents into Hardmode should know that the gear which makes them hit hard is a gun build's gear, not a thrower's.