It has six health and when it enters, you get to create X 2/2 White and Blue Knight creature tokens, which is already pretty good
For your renewable sacrifice engines that's four sacrifices each turn, and a deathtouch blocker to trade up
Opt is Standard-playable, while Preordain is a Vintage staple, banned in Modern
Chargebacks: Fraudulent chargebacks will result in a permanent ban and may be pursued in small claims court
Stuff like Snuff Out or Dismember are already heavily played cards, but here, you get to draw a card from them because you lost 4 life, and you also get to drain your opponents for 2 life, offsetting your life loss
If there are relevant creatures that need to be dealt with, it makes sense to swap your Shriekhorns for Lightning Axes