Hmmm.... possibly.3rd level spells:
Dispel Magic - were you thinking maybe of counterspell when you wrote this?
I agree it's powerful, but it really depends on how many magical traps/barriers/objects you come across. They arn't common in the campaigns i've seen.Dispel magic is exceedingly powerful, especially with the bonus the bard gets. A bard has a very good chance to dispel a very powerful effect, without having to use a higher spell slot. Dispel can be used on creatures, objects or just magical effect. Thus magic traps, gone. A buffed enemy, completely unbuffed. A spell that just locked down your party, undone.
And hitting the caster with say... fireball is usually better then dispelling his buff.
But i will reword it.
At lest in the campaigns i've seen, spells arn't that common.Dispel in my mind is easily a gold spell by your rankings. Counterspell is at least blue. If only because counterspell also gets the bard bonus, meaning you can give the finger to that lich/illithid/drow/etc every time it tries to cast a spell.
And using a spell to maybe stop stop a spell is iffy.