In general, looting a card back to the top of your deck is worse than discarding a card (since you can't take advantage of any graveyard synergies), which means the +1 is only powerful with a very narrow subset of cards (things like Miracles)
Normally you'd get a dopey 1/1 for the colors or even a 0 powered something, like Utopia Tree
In most decks, no, 7 mana to cast and 7 to equip is ridiculously expensive
Not only is it a shiny version of an already beautiful card, but as mentioned before, it's just downright useful in Token, Counter, and Commander decks
Changing gears, another card Im really interested in is Hatchery Spider
This often rose to the level of outright hatred, which meant that even though a lot of players didn't want to or weren't capable of piloting the Bloom deck, they still faced enough hate to keep the deck in check