At the time, these Creature types were largely created for flavor purposes
Like most Magic: The Gathering cards, the value of Ironroot Treefolk depends on a few consistent factors: its rarity, the printing and finish (regular or foil), its physical condition, and the set it was printed in (30th Anniversary Edition)
Plus, its almost free to add to a deck that requires key threats to be protected from spot removal, so your commander gets harder to kill if you have a few untapped creatures laying around
Open Sesame So this planeswalker/wizard/Gandalf-ish guy gives us discounts on our instant and sorcery spells whenever we Scry
When it was spoiled, there was much wailing and gnashing of teeth over whether it should be pre-emptively banned (since its kind of like Biorhythm)
Wielding charisma like a blade, Tegwyll sets his ambitions on the High Fae court