Again, it's not card advantage in and of itself (since you draw three, and then discard three + lose the Coliseum), but it combines famously with Deep Analysis and madness cards (such as Circular Logic), and its effect can't be counterspelled
It's also a "may" ability, so they don't have to worry about accidentally killing him
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The set's focus on multiplayer staples and commander-specific reprints justifies the premium price if you're serious about the format
The free cast from the top of your library adds even more advantage
Pinocchio, Talkative Puppet is a cheap card that exerts an opponent's character when played, so returning it to your hand to be played again can be a strong , inexpensive way to control the board