In the Anime terms, yes it can. Kaiba uses it to remove the three Egyptian Gods from play in the Yu-Gi-Oh! Movie.
However, as we all well know, the majority of the anime is fabricated to make the game more exciting. In OCG/TCG terms, no it cannot. It's a continuous trap that allows you to Special Summon either 'Andro Sphinx' or 'Sphinx Teleia' at a cost of 500 Life Points each. When 'Pyramid Of Light' is then destroyed, the two sphinxes are also destroyed, allowing you to Special Summon 'Theinen, The Great Sphinx'.
The straight forward answer is no.
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That effect only worked in the show. So no its useless againts god cards
No. Destroying Pyramid of Light will only destroy Andro Sphinx and Sphinx Teleia. If you (or your opponent) destroy both sphinxes at the same time (such as through the destruction of pyramid of light), your opponent will be able to special summon Theinen the Great Sphinx, so be careful unless you have a plan to deal with that beast.
the card in general is unknown with the cost of it and all but plus the god cards i would buy it for an estimated cost of $40.50 without the gods maybe only $15.25.
*Polymerization. No, because there is no fusion monster that lists any of them as material mosters. The Creator of Light Horakhty will be released soon, but it requires a tribute of all 3 TOURNAMENT LEGAL God Cards.
No. God Cards are not legal game cards, so cannot be used in tournaments.There are a few legal god cards like ra and obelisk but not slifer not yet