It was played by Frank Marshall in the 1920s, but he gave it up after losing with it to Alekhine at Baden-Baden in 1925.
White may choose to ignore Black's provocative second move with 3.Nc3, which will usually transpose into normal lines of the Queen's Gambit Declined (after 3...e6), the Slav Defence (after 3...c6), the Queen's Gambit Accepted (after 3...dxc4) or the Grünfeld Defence (after 3...g6).
In fact Stockfish 16 NNUE at depth 49 has heavy preference for the latter (+0.8 to +0.3).
White retains a small advantage in the queenless middlegame that follows.
A tricky move order by Black, trying to transpose into the Grünfeld Defence if White plays natural developing moves, e.g., 4.Nc3 Nxd5 is the Grünfeld Exchange Variation.