The sideboard is a little loose it might want Jace, The Mind Sculptor, it might want an answer to artifacts, maybe Pithing Needle, or even Grafdiggers Cage if you have Young Pyromancer instead of Snapcaster Mage but the basic idea is clear
Also for one mana, you can make one of your creatures indestructible until the end of the turn
The other way to convey a sense of Steel was in the colour palette
#1 and #2
Next, at the end of your turn if a player controls no creatures (presumably because you've forced them to exile them all), you have to sacrifice this enchantment
I dont think it will be at this high price point forever, as many beaters high in play value drop after they fade from tournaments (such as Baneslayer Angel, Chameleon Colossus, or Loxodon Hierarch)