First of all, this is a legendary creature, which means it can helm a Commander deck
Add in a Heat Shimmer or Ghostly Flicker and suddenly you can go infinite, all with great value cards for this strategy
Featuring a Floodborn version of the iconic Alice in Wonderland character which looks awesome Cheshire Cat, From the Shadows has the Shift keyword, enabling players to pay less for the card if they have a Cheshire Cat already out, and Evasive, preventing enemy characters from challenging it unless they have Evasive themselves
I'd place this around Bitterblossom in usefulness (costs more mana, but doesn't lose you life)
(Ill leave discussion of what truly delineates CEDH from high power Commander to those more involved in that end of the format, however.) An Exhibition (1) deck is almost always built with some major quirk in mind
I would keep this even if I were spending a significant amount of money on upgrades