We were confused playing Legacy and using the Take Down card. It is labeled as an Ongoing, but it also says to discard at the start of your next turn. Does this mean you discard it when you stop taking the damage from holding the villain card draw back, or can you only use it for one turn then have to discard it? If you can only use it for one turn, then why is it labeled an Ongoing instead of a One-Shot?
First, it says "destroy" not "discard." minor point, but destroy is from inplay, and discard is from your hand.
Second, yes, the entire point is to be out for only a single turn. Why isn't it a One-Shot? Because the text only works if it is inplay, if something destroys the card, the villain can still play cards.
Without going into too much detail, the game tries to avoid having effects inplay without an actual card representing it. By making it an Ongoing, you always have that text there reminding you about it. Now, there are cards that will have a longer effect and go to the trash, but they are worded a little differently (e.g. Mistbound), and have slightly different mechanics.