He was literally the biggest, scariest creature in the game in 1993, and with both Animate Dead and Dark Ritual in the first set, he could hit the battlefield well before turn seven, so he was a very in-demand card
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A two-mana creature that fixes your mana for turns three and beyond is solid, helping to accelerate you past your opponents and start casting larger and more powerful spells
No one really wants to use a removal spell on it, and they dont even know that itll really do much
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Depending on how you want to think about itthey give you value up front, not all creatures do the same