In Vintage or Legacy, reanimator is broken, but no more broken than any other you can do in Vintage.
In Modern or Standard? Not so much. It's still quite flavorful, and helps keep black competitive, but there's a balance to be had, so it's not quite as broken. Find good self-mill cards; in Standard, that's Mulch and Tracker's Instincts . In Modern, that's Life from the Loam . Mill spells that say "target player" or "each player" also work.
Reanimator is my go to for Legacy....It is very competitive and fun....Gotta love a first turn Griselbrand backed by FoW and Daze.....Karakas can be a pain so I added It That Betrays as a secondary win condition....Show and tells w emrtakul in the sideboard......its fun....