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For two mana, this card lets you make a two-power Knight Creature token at Instant speed, which is nothing special

Sometimes there's a benefit to holding cards for later

Increase the damage with cards like Dictate of the Twin Gods or even better, drop down Gisela, Blade of Goldnight to double your opponent's pain while mitigating your own

It can slot into just about any red build as it is a powerful creature with evasion

Keep in mind that there was a very short period of time to obtain Umbreon Gold Star , and point income was very low unless you attended every single event

All this is to say, while people with big Reserved List collections will lose some value if the foil loophole is reinstated on the Gaea's Cradles and Gilded Drakes of the world, the impact is likely overblown, as the most expensive cards on the Reserved List are expensive because they are extremely rare and collectible, not because they haven't been reprinted