The attack trigger is especially nice on the back half
For example, if your commander has the ability to gain a lot of life, you might build a Commander deck with cards that benefit from maintaining as high a life total as possible, and focus on out-enduring your foes - or you might use your life total as a resource, burning through it to fuel powerful abilities and relying on your commander to keep yourself from succumbing
Later the card works as a solid enough mana sink
I believe that the events winner, Martin Juza, won a pretty nice Alienware laptop
That's absurdly powerful, because Rakdos (and especially black) has loads of ways to pay life for valuable effects - from something as straightforward as Phyrexian Arena to absurd cards like Bolas' Citadel or Necropotence
It turns your loot effects into massive damage and card advantage