This card offers a wide variety of useful effects, at the cost of life
My preferred type of deck for Edric is a tricksy tempo deck, often with Opposition as a finisher, and which has a high concentration of cheap evasive dorks that do other things as well such as Looter il-Kor, Trygon Predator, Kira, Great Glass-Spinner, Blinkmoth Nexus, Strangleroot Geist etc
Its also not usual to have it played alongside Repercussion in order to kill the table
You play 3-4 matches over as many hours, plus another 40 minutes for deckbuilding
Considering you're already running a bunch more artifacts between ramp purposes and other Equipment you obviously want to include in your Equipment-themed deck, and you've got yourself a pretty heavy-hitting creature
Whenever one or more creature cards leave your graveyard, create a 2/2 black Skeleton Pirate creature token