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It's an awesome card in play

Decks that want to play counters are almost always control decks, and control decks would much prefer to gain life rather than cause opponents to lose life, so all things being equal they would have preferred to play with Absorb but there were other considerations that forced most of them down the black road instead

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And being a beacon for removal is certainly powerful for a deck relying on drawing very specific creatures in the early turns of the game

Our opponent casts Dreadbore, targeting our Colossus with the hope that Dreadbore will send it to the graveyard

For that same reason, Ill also try to find space for Assemble the Entmoot