It doesn't copy whether that permanent is tapped or untapped, whether that permanent has any counters on it or any Auras and/or Equipment attached to it, and it doesn't copy any non-copy effects that have changed that permanent's power, toughness, types, color, abilities, or so on
Alseid of Life's Bounty
Expending your lands pumps up this ooze with +1/+1 counters, and when it leaves the battlefield you can get some of those lands back to your hand
An inclusion that I love in TSPJendrek list is Parallax Tide and Parallax Nexus , which can combo with Ertai Resurrected, resulting in a 4 mana exile 5 lands or exile 5 cards in hand of your opponent since youll be countering the Fading ability on your following upkeep
Conversely, this deck is designed to put pressure on your opponent and force them to continually clear your board, so it doesn't have any removal tool of its own
The flavour text, however, talks about how deadly it is, which leads me to wonder if it was initially supposed to have an effect more similar to Deathtouch or even poison counters
