Then you can tap Lathril and ten other untapped Elves you control to make each opponent lose ten life and you gain ten life
Myrkul's Edict
Storm decks, Jeskai commanders like Narset, Enlightened Master that revolve around noncreature spells, and even builds that just run fewer creatures than average will all be very interested in this effect because it doesnt have any limits
And while there are some legendary creatures that can be alternatively cast for a non-creature half, that seems like a lot of hoops to jump through to then give all your creatures what you actually wanted two turns later
Legendary Creature - Elemental Cat Nahiri, the Lithomancer +2: Create a 1/1 white Kor Soldier creature token
While I can see a need to put more Equipment in this particular deck, as theres only 16 core Equipment cards and drawing cards isnt always kind, its still a very well-rounded deck, with simple but powerful mechanics