While there were several competing styles of Survival decks around the time of its banning, the one that really ignited the controversy was Calebs Vengevine/Survival deck that would quickly put all its Vengevines into the graveyard, then play a couple of Basking Rootwallas for free, leading to extremely backbreaking assaults (frequently in the air, thanks to Wonder) that were immune to most forms of interaction
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Even if this does happen, it may only be temporary
Aside from its novelty, Extermination is rather on-rate for a removal spell
These are designed to fill a specific purpose or style of play that simply stands apart from targeting a sanctioned format or blindly cracking packs
Exiling a permanent and turning into an indestructible god that distributes counters and draws more cards is well, ridiculous