The biggest draw for playing red is the other red card that is secretly one of the best cards in the deck: Xenagos, the Reveler is phenomenal in this archetype because its one of the few cheap(ish) permanents you can play that isnt vulnerable to a sweeper effect
Our treat
If a Continuous Spell or Trap copied by this card would have an effect that requires you to activate the card in question (Call of the Haunted, Fiendish Chain, Fire Formation Tenki, etc) then this card doesn't really do anything because it just becomes the effect, and doesn't re-do the activation part of it
While a triple blue casting cost can be restrictive in some decks, making any player draw as many cards as you are willing to pay mana for is great
It also reads, When Asmoranomardicadaistinaculdacar enters the battlefield, you may search your library for a card named The Underworld Cookbook, reveal it, put it into your hand, then shuffle. This artifact lets you discard cards for food, but also sacrifice it to return a creature from your graveyard to your hand
Exarion ended up centralizing the meta by being a better piece, a Queen, and killed deckbuilding creativity
