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Subsequent errata would turn 'mist' into 'Elemental', which makes sense

Heres an excerpt from a report by BofA on the subject

If at any point, you control more creatures that you have gained control of using this creatures first ability than there are creatures named Mind Slaver on the battlefield, return one of those creatures of your choice to its owners control, and continue returning those creatures until the number of creatures you control that you gained control of using this creature is equal or less to the number of creatures named Mind Flayer on the battlefield

If you discarded an instant or sorcery card this way, each opponent loses 1 life and you gain 1 life

If he spends all his fast mana on Mind Twisting you, then the Griselbrands are going to be dead in his hand

Unlike many effects that grant additional combat phases, you don't get an additional main phase with Godo, Bandit Warlord's ability