Some decks want this effect
The card allows the player to banish any number of their items and draw a card for each , making it easy to get a deck refresh in exchange for cleaning up the board a bit
On top of that, when you sacrifice it, you get tempted by the ring, making it an auto addition to decks that care about the mechanic, or just to at least make something harder to block
(11/10/2023) The back faces of some cards with craft refer to cards "used to craft" it
Casting a planeswalker as a spell uses the stack
(Ironically, I bring this up during one of the most linear sets [ Scars of Mirrodin ] that we've done in quite some time.) When you use a threshold mechanic, it usually means you want to start looking for a modular mechanic to help keep the balance