I think the designers felt that the strength of Life Imagined will come from how the runner has to keep in mind all three possible identities and play around them. However, I imagine that most people will be playing it with the Greenhouse ability active because, far as I can see, that's just the strongest. Let's take a look why.

The Brewery allows you to kill the Runner if he ever ends his turn with 1 card in hand. Now, this isn't a really common scenario because very few Runners will ever go down to 1 card against Jinteki. Sure, he might have hit a Komainu or a Snare on his second last click and not have enough time to draw up, but the chances of that happening don't seem to be large enough for me to warrant putting the Brewery on the flipside.

The Tank allows you to reset the game if it's been going on for too long and you want all your cards back into R&D. I'm... not entirely sure it's absolutely necessary, especially since this is a 45/15 deck. Of course, maybe you can use this to setup some sort of crazy Power Shutdown combo-wombo play, but aside from that, the Tank's ability is similarly too rare for it to be worth your ID slot.

Now the Greenhouse, on the other hand, lets you do all sorts of things. It allows you to bring a Project Junebug protecting your Shell Corporation to a guaranteed kill range; instantly score a Nisei MK II/House of Knives/Philotic Entanglement; gain a shit-ton of cash with Thomas Haas/GRNDL Refinery; or maybe just instantly power up a Ronin/Reversed Accounts and ready it for the kill next turn. In fact, if you spring for Biotic Labor - and Biotech seems to be built for click-gain effects - you can Biotic, flip Greenhouse onto a Ronin, and instantly use the Ronin to kill any Runner with 2 cards or less in hand.

The strength of the Greenhouse is that it is versatile. Unlike the other two flipsides, the Greenhouse can be used to spring a great number of nasty surprises on your foe in the form of traps, economy, or fast-advance. It is a great identity, and the fact that the other two flips may possibly exist is just icing on the cake.

I still doubt this ID is tier 1 material. After all, you can only flip it once per game. Now, if you were able to choose which Biotech ID you flip to during the game (as opposed to before it starts) then it would be pretty potent (and still hardly OP). —
Does "before your first turn" mean after starting hand and mulligans? I could see a certain kind of highly versatile deck choosing based on opening hand... —

Some people say that this is really just a worse version of Fire Wall, and in many ways, they're not wrong. After all, after and 1, there's basically no difference between a Fire Wall and an Asteroid Belt save for the fact that Fire Wall can continue to grow in strength while Asteroid Belt cannot.

However, it is important to note that a cheap barrier is sometimes better than a strong barrier, and Asteroid Belt can be very cheap if you're including advancement jank (e.g. Constellation Protocol, Satellite Grid, Trick of Light) in your deck. After just a single advancement and a Satellite Grid, Asteroid Belt will cost you just as much as a Wall of Static but with twice the strength. What's more, while Asteroid Belt will not lose its strength after you perform your advancement taichi, you cannot say the same about Fire Wall.

In short, there's a place for both of these cards, and it would probably do you good to consider which card will serve you better.

Also of note is the advancements on asteroid belt can be moved to fire wall via constellation, so they kind of complement each other. —

This card is so good. Not only does it fire from anywhere - be it R&D, HQ, Archives or a remote - Space Camp also allows you to do wonders with advancable traps and ice. Got a runner who likes heading into Archives for Datasuckers? Guess what, a single copy of Space Camp there will help you boost up your Ice Wall, Fire Wall, cosmic ice, trap or agenda every time he does that. Couple it with a Cyberdex Virus Suite in the archives, and you'll be ruining the runner's day in no time.

Being an asset, Space Camp is also great to plonk behind a glacier during a fake scoring window to test if the runner will run. If he shows that he's not going to run, that's fine: just replace it with an agenda later on. If he does run, well, guess who has two thumbs and just got a click and a credit for free?