There are reasons, of course in the rare tournaments where Black Lotus is legal, it is an unmatched trump card, allowing a player to skip ahead to cast their most powerful spells on the first turn of a match
Miscut or misprinted cards are also quite impressively valuable within a niche subcommunity who collect them
Its great on turn one or two to kill off early mana dorks, but its also effective in the late game as a cheap enabler for Dictate of Erebos or in the midgame against Timmy-style decks that drop a single threat each turn
: Put target artifact or creature card with mana value X from an opponent's graveyard onto the battlefield under your control tapped
2017-06-27 If the card copied by the token had any "when [this permanent] enters the battlefield" abilities, then the token also has those abilities and will trigger them when it's created
The mana advantage from that point forward is virtually identical to the real thing