Not only does your instant or sorcery go to the graveyard, but your flashback cards count as potential life loss for opponents, and even two or three represent a big chunk of life to keep creatures around
Beyond the obvious bear typal builds, you can give it cascade with Imoti, Celebrant of Bounty, you can use it to keep your ferocious, formidable, and other power-matters abilities online, and you can discard it when you cast your Indominus Rex, Alpha to give it hexproof and trample
This lets you make your own copy with whatever modifications youd like
It can protect valuable cards from black discard, and can combine with library shuffling effects to improve your draw (such as Thawing Glaciers, Flooded Strand, or Ramosian Sergeant)
This is a delayed triggered ability, and it can be countered by effects such as Stifle or Voidslime that counter triggered abilities
Faithless Looting 9 The best discard tool on offer by quite a significant margin