This IS an equipment, and RW cares about that, so it probably gets played more often than it would in most formats Lots of sets lately seem to have an Artifact that is a removal spell, and it is nice that you can play them in any deck, but they tend to be pretty inefficient, and thats kind of the case here
Slither Blade Its little and low impact, yes, but Slither Blade is also unblockable and its a rogue
Not legal in sanctioned tournament play
Murktide Regent is just a big dumb flying creature, but its really good at being big, dumb, and flying
The Limited experience was also one of the most interesting
For example, Bedlam Reveler will cost RR to cast if you have seven instant and sorcery cards in your graveyard while you control Geist-Fueled Scarecrow