Level
1st
Casting Time
1 Action
Range/Area
Touch
Components
V, S, M *
Duration
Concentration
10 Minutes
School
Abjuration
Attack/Save
None
Damage/Effect
Buff (...)
Until the spell ends, one willing creature you touch is protected against creatures that are Aberrations, Celestials, Elementals, Fey, Fiends, or Undead. The protection grants several benefits. Creatures of those types have Disadvantage on attack rolls against the target. The target also can’t be possessed by or gain the Charmed or Frightened conditions from them. If the target is already possessed, Charmed, or Frightened by such a creature, the target has Advantage on any new saving throw against the relevant effect.
* - (a flask of Holy Water worth 25+ GP, which the spell consumes)
Ouch 25 gp to use this level 1 spell.
concentration *and* 25gp for a level 1 spell, big oof
Just think you can use Ceremony to make the holy water if you have is 25gp of powdered silver and an hour to kill.
To be fair, this is a very good first level spell. Most creature types have disadvantage against the target, and being ubiquitously immune to charmed, frightened, and possessed from those creatures is quite powerful.
In fairness, while they did put the cost on the spell description in the 2024 version, this didn't really change anything. Holy Water has always cost 25 gp in 5e, and since it was always consumed by the spell you always needed to actually have it (instead of a spellcasting focus) to cast this.
Actually, previously you, didn't. The only thing that mattered for whether or not you needed the material was if it had a listed cost. Taken from the 2014 PHB, page 203:
"A character can use a component pouch or a spellcasting focus (found in chapter 5) in place of the components specified for a spell. But if a cost is indicated for a component, a character must have that specific component before he or she can cast the spell."
That is incorrect. You also need to have the actual material component if it is consumed by the spell, which this one is (in both 2014 and 2024 versions). This is stated in the very next sentence after the part you quoted, which is (emphasis mine):
"If a spell states that a material component is consumed by the spell, the caster must provide this component for each casting of the spell."
I hate the mechanics of this spell. It doesn't really do what it says it does; it is not alignment-based; it misses categories that I would want it to affect. Like, why does this not work against Lycanthropes? Why aberrations but not monstrosities, most of which are evil? And why DOES it work against elementals? They're mostly neutral!
The spell is really poorly named; you're right that it doesn't really have anything to do with good, evil, or alignment in general. It should be called "protection from extraplanar entities" or something, because that's the set of things it's meant to defend against: creatures that are from other planes of existence. Monstrosities are usually more "home grown".