The fact that you can cast Tiamat with this in play and put five dragons on the table is very interesting and splashy, but in competitive MTG, this spells win more. Either way, this card can create loops when you cast a dragon again and again for free, but youre either cheating Dracogenesis into play or dumping 8 mana into it Omniscience is already a thing, by the way
Large equip costs can really slow down your game if you dont have a way to get around them, and can often result in you wasting mana for a card you dont even get to use
This immediately taxes all your opponents, making their spells and abilities cost two generic mana more if theyre looking to target your artifacts
having a cheap one in the command zone makes your deck more consistent and efficient
Let me know in the comments or, er, hop on over to the Draftsim Discord