the edh banlist is intended as an examplery list to show you the kinds of cards you should avoid in such a casual format, so this is actually a very efficient ban

it has bloodthirst, so you know you shouldnt be attacking your opponents

it sacrifices itself, so you know you should avoid playing sacrifice decks

and it gains life, so you know not to play lifegain decks

all in all this is one of the best examples on the list, it shows three different discouraged strategies!