The counter suite is rounded out with An Offer You Can't Refuse and Swan Song for hyper-efficient cards to win counter wars and quell the Wrath of God, plus Arcane Denial and Mana Drain for catch-all protection
At the very worst, you get a +1/+1 counter and some slight card advantage, and at best, you get to seriously delay your opponents own game plans by having them choose not to feed the Shredder over playing good cards themselves
The high price tag reflects that
And third, every opponent loses life equal to the creature cards in everyone's graveyards--an effect only made better by the milling performed when you were tempted by the Ring
How does the Ashnod's Altar + Priest of Gix + Enduring Renewal combo work
Dawnsire and Guilty Conscience are your damage dealers, while Stuffy Doll and Phyrexian Vindicator are your damage sponges and redirectors