Yes, you lose some life every turn, but The One Ring is also indestructible, making it extremely difficult for your opponents to interact with, and you really should have some bounce spells to maximise the potential of The One Ring (and to not lose too much life)
Its more than just a card its a shock to your opponents system
It triggers every time you cast spirits and arcane spells, and you force your opponent to discard everything as cheap as or cheaper than what you cast
Im not sure where this version will eventually fall, but if youre wanting to buy a copy of this legendary artifact, it might be worth having a little look around before smashing that buy button
We've already seen Rousing of Souls from the Conspiracy set, so naturally we have another card from that set as well: Muzzio, Visionary Architect
Necropotence This card is almost a shoe-in at this point because tons of people asked why it wasnt already there when during the initial Commander Brackets presentation