I like colorless decks, though mostly 5 color colorless, this fits really, really well into like just big dumb Eldrazi decks
The utility of being able to use this as a (sorcery-speed) pump spell in addition to the fight mechanic was extremely valuable to those decks at the time, which were full of cards like Questing Beast, Lovestruck Beast, Gemrazer, Kazandu Mammoth and other beefy creatures that benefited heavily from fighting
No exile is minor for the midrange and control decks and so overall you just always put a Searing Spear and an Incediary Flow into a drafting cube long before you entertain this otherwise fantastic spell
After all, you arent at risk of drawing any of your sideboard cards normally during the game
This monstrous card has some of the best protection in the game, having protection from quite literally everything