The next set of serialized cards came from March of the Machine, where we are given the five flip Praetors, also in a set of 500, but most importantly, the serialized cards have new, original, exclusive art
More importantly, the draw and discard option opened up Phoenix strategies in Pioneer since Faithless Looting is not accessible in the format
In this case, that damage reduces your life total as normal
It's a strong addition to decks that want to sacrifice things, especially if you can double the trigger with something like Teysa Karlov
If it gets countered or destroyed, you still gained value from the double cascade
This question is extremely relevant now that Treasure tokens are everywhere because they can be considered for affinity and the mana they produce