Its just slow, and getting the maximum value out of it takes effort and specific deck building
Competitive players memorized complete card pools, and deckbuilding felt manageable even without digital tools
Backwoods Survivalists Courageous Outrider Crossroads Consecrator Desperate Sentry Emrakul's Evangel Enlightened Maniac Extricator of Sin Exultant Cultist Faithbearer Paladin Fiend Binder Foul Emissary Gisa and Geralf Grim Flayer Grizzled Angler Hamlet Captain Hanweir Garrison Heron's Grace Champion Ironclad Slayer Lone Rider Midnight Scavengers Primal Druid Sanctifier of Souls Sigardian Priest Skirsdag Supplicant Steadfast Cathar Thalia's Lancers Thalia, Heretic Cathar Thermo-Alchemist Thraben Standard Bearer Ulrich of the Krallenhorde Weaver of Lightning Wharf Infiltrator Woodland Patrol
Things very rarely align such that the extra mana on Exhume over Reanimate is relevant
Since its a cast trigger, that spell doesnt have to resolve to get the energy, but that means you cant get it from other artifacts just entering the battlefield
Also, it is still a 7/7 flyer itself, which is a pretty nasty threat