You can either have the Acolyte become a Human Cleric and gain +1/+2 and lifelink, or you can have it become a Phyrexian, and gain +3/+3, trample, and Whenever this creature is dealt damage, sacrifice that many permanents. Both of these are useful, and its an incredibly cool design
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If you play it early it will definitely build up counters and then reanimate something at some point, but if you get it in the mid to late game, it is likely to be a little too slow to actually do anything, and thats a huge downside This seems like it takes too much work
If Oculus Whelp dies at the same time as your transformed permanents, its ability will trigger, and you'll draw a card
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