The ability being optional means you might see some interesting ebb and flow in games
Some treefolk already gain life when they ETB, and Treebeard should be a perfect addition to an EDH lifegain, treefolk, or toughness-matters deck
Clearly, the Up the Beanstalk Engine is doing a lot of work here since its a part of the deck that doesnt totally rely on the graveyard to drive tempo
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Once Teferi survives the first turn, you can start casting Nexus of Fate and can eventually snowball and go off
Thats helpful when playing one-on-one, but in multiplayer matches against two or more opponents it becomes truly incredible