You wanted something you'd actually show people, not something you'd quietly throw in a drawer
Even if you dont build around Treasure, you still draw off fetch lands, regular sacrifice effects, and so on, all while turning Korvold into a lethal threat due to its +1/+1 counters
The card advantage gained from a Skullclamp is obscene, as every equip nets you a card even if the creature dies for no effect
Its not powerful in isolation, but it could be good in a very particular deck
Because you control the ability, you choose any targets it requires
Songs like Grab Your Sword and Be Prepared were overpowered back then as they could easily wipe the board of any chance your opponent had at succeeding