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Although it costs two more, the modes make it work it

inflict damage to your opponent equal to that target's Level x 200

Vintage is not typically a place where one would really consider something like a 2/1 that generates a Treasure token to be ultimately a powerful card, but things have changed quite a bit in the format in that regards over time, and the power creep of both cards like Ragavan, Nimble Pilferer and Dragon's Rage Channeler is too hard to really ignore now

When this card is Special Summoned: Target 1 monster your opponent controls

When playing a Horobi deck, it's important to note that as this effect is universal, meaning opponents can use this effect to target your creatures as well

Plenty of great creatures want to be untapped, if for pseudo-vigilance if nothing else