You also get access to Tamiyo, Inquisitive Student, which you can flip relatively easily thanks to a playset of Thoughcast and Mishra's Baubles which you can recyle turn after turn with Emry, Lurker of the Loch
For example, you can't cast a creature card with mayhem you couldn't normally cast during an opponent's turn, even if you discard that card during an opponent's turn
but it suffers from being a lot of mana for a minor effect
While Angel of Grace will keep you from losing to damage, you can still lose the game even with Angel of Grace's enters-the-battlefield trigger in effect (to something like loss of life, mill, or a Vraska, Golgari Queen emblem)
If you're keen on wiping the board and protecting your own stuff, Avacyn, Angel of Hope will give you what you want right in the command zone without needing to draw all those cards
The EDH format loves cards that scale with the number of players at a table, and Rhystic Study puts all your opponents in a tough spot with a single, cheap permanent