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It forces your opponent into to an early choice, and if they don't counter Eternal Dominion, can snowball into a victory for yourself

The most important thing this does, and why the card is so powerful, is that it prevents your opponents from casting their Commanders for as long as Magistrate remains on the battlefield

Take a look at the alternate art for Void Beckoner as an example

Weirdest Reserved List Inclusion Escaped Shapeshifter Cmon

Thats right, its more than just a card draw engine

Copies of Phyrexian Tower before this years reprint were flirting with triple digits, but now you can acquire a copy for as low as $20