If Phantasmal Image somehow enters at the same time as another creature, Phantasmal Image can't become a copy of that creature
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But if you step back look at the card as a whole, you see that the Moat fits into a larger theme
The Reaver Cleaver is one of the best
While Charizard existed prior to this set, the release of Buddy-Buddy Poffin gave a much-needed boost to Stage 2 decks, especially combined with Arven and Rare Candy
Notably, the commander tax is paid in life rather than mana, so recasting her is never prohibitively expensive