It's a classic high-risk, high-reward engineits great in decks that pressure opponents consistently and can afford the life loss in exchange for staying loaded on cards
With so many sweeping removal variants through the years, each deck can choose the best ones for it and its metagameHallowed Burial, Akroma's Vengeance, Life's Finale, Hour of Reckoning, and so forth
At that point, spending give mana just for a few tokens and lifegain every other turn seems like a bit of a waste
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