At a staggering twelve mana, casting Emrakul might not be in the cards very often, which is fine most of the time since youre not going to be playing fair Magic with this card
Additionally, Kroxa is slow
Whenever a player plays a spell that counters a spell that has been played or a player plays a spell that comes into play with counters, that player may counter the next spell played or put an additional counter on a permanent that has already been played, but not countered.
The true value of this card is to pair it with a double life loss effect like Bloodletter of Aclazotz
That ability goes on the stack, and you have a chance to respond to it before it resolves
Red ended up with Incinerate instead of Lightning Bolt, possibly because it was now considered too good for Standard