Its ability seems weak (and likely is), but against a red/green deck, it avoids several common creatures
On turn two, if you saved your Mana, you could have a 2/2 blocker or attacker
Im currently in the process of building an Elminster EDH deck, and its been a lot of fun, as Im finding myself putting in many cards that I wouldnt typically otherwise play
Its incredibly powerful attacks and supporting cast have made the Roaring Moon ex deck almost unstoppable, particularly thanks to its Frenzied Gouging attack which allows it to knock out any Pokmon in the game
Create custom lists for battle decks, trade binders, and grail hunts
Btw I feel like if you want to do your mill win condition with Dread and Altar of Dementia, the four horseman combo Aphetto Alchemist/Basalt Monolith + Mesmeric Orb and Sidisi, Brood Tyrant might be worthwhile