The element of surprise leaves opponents unlikely to anticipate or prepare counterplay for a card like Reincarnation, and its a pretty powerful card even by the standards of black reanimation
One of the key answers against it was to play creature light deck, or to wait to play them for maximum effect
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However, with enough recursion (Scrap Trawler + Myr Retriever + cost reducers), it can generate near-infinite value, especially with sacrifice outlets added
The downside is your opponent might draw it again later
The attachment only ends if something explicitly unattaches the Equipment or attaches it to another permanent (such as from you activating the shackle ability again)