Magic: The Gathering has been running for literal decades, and while reprints will always keep making harder-to-find cards a little easier to collect, there are some cards so rare that they become almost like urban legend
Besides, you can play with such cards, and their end date will increase significantly
Sheoldred, the Apocalypse turns that around, so while you'll still lose life every upkeep, you'll gain much more back each time you use it to draw an ever-increasing number of cards
The Mirage rare is on the Reserved List which makes it an easy target for financial shenanigans, although there is a more important reason for the price increase: A few days ago Wizards announced a full Commander deck coming as a Secret Lair drop which happens to be a coin-flip deck with Okaun, Eye of Chaos and Zndrsplt, Eye of Wisdom as the face Commanders
A 4/5 body for four mana is already solid, and the consistent value she generates makes her one of the best Elf commanders in MTG for longer, grindier games
Control the board with Aetherize or Infernal Grasp, and finish off your opponents by swinging with a massive army of evasive 9/9 Wraiths