Instead of these, it's created 'Welcome Decks'
Battles operate the same in that you select a player to defend the battle that you control, and in a multiplayer game like Commander any player can attack that battle
Given that it is red, its quite easy to transform it on the same turn before playing your land, and then discarding the rest to the pyre to refresh yourself with new resources (while presumably also bombing a few relevant battles on the way)
You just end up with too many weird mixes of cards, and pinpoint disruption like Thoughtseize can be particularly brutal
Other Ho-Oh printings sit at Promo, Rare Holo, Crystal, Uncommon rarity tiers, so this Rare Chaos Rising card is not interchangeable for set-completion or value purposes