Whoever reaches 20 lore first wins
But Historic is a format that benefits from weird mechanics
In more aggressive or combo decks that can reach the six mana threshold it excels and is also playable in control however it is a dead card for control against decks like red deck wins where casting it is suicide
Skullclamp will net you 2 card draws for each creature that dies with it equipped, and it only costs 1 to cast, and 1 to equip
While Ratchet Bomb isnt a Modern staple, it does see play, often in colorless decks lacking removal options, as a Karn, the Great Creator tutor target or in mono-colored decks that cant easily power up Engineered Explosives as an answer to Urza's Saga tokens
Its so easy to build a mana base with little or no basic lands nowadays that you can quickly fill up your graveyard with tons of value or even empty the entire thing to win with a card like Thassas Oracle