Each opponent loses X life, you gain X life, and the topmost creature card in your library perpetually gets +X/+X, where X is the number of counters removed this way
This time it's an artifact, and there needs to be a creature in play, but you are able to ping your own creatures with this and draw a card each turn - assuming they survive
Equipment attached to a creature doesn't become tapped when that creature becomes tapped, and tapping that Equipment doesn't cause the creature to become tapped
Unfortunately, it was made a rare and as such ended up on the Reserved List (a list of cards made by Wizards that we've promised never to reprint.) What's a designer to do
It was big, bold, and ambitious and now completely out of scope for the Secrets of Strixhaven season
Knowledge and foresight comes at a price for Rakdos