While it only taps for Colorless mana normally, it can become whatever you want
This will also add politically based removal to every deck that needs it, like Black's inability to handle artifacts or Red's enchantments or Green's creatures (typically, although there are exceptions)
Thats because while Commander is an amazing and fairly accessible format thanks to a steady stream of precons, beginners can have a hard time getting high-demand staples at a relatively affordable cost
Those lists typically already go pretty wide with cheap, 2- to 3-cost creatures, and this would be a great top-end that solidifies your board and has a lot of potential to come out early
What has changed since July 2021 when he purchased the card
Thankfully, however, there is a good reason this Lord of the Pit cost so much: its rarity