Horakhty wins you the duel automatically
Instead theres a margin of acceptable deviation from perfect that manufacturers account for and allow
Most people have terrible decks, because its currently very difficult to build good ones, even if you spend a lot of time playing the game
Practical tips to maximize value
If you can get Haakon into your hand, which you can do with cards like Netherborn Altar and Command Beacon, he becomes an incredibly grindy value engine for a Knight deck, letting you replay your fallen allies from your Graveyard
If youre in a blue equipment deck yourself, like Arna Kennerud or Basim Ibn Ishaq, then this is also just roughly equivalent to a two mana move-all-of-your-equipment-and-reuse-an-etb-or-save-a-creature-from-removal-or-being-blocked