Pointed Discussion

Seems more fitting for this to be a creature and not an enchantment.

Eh, if it were a creature I would expect it to have to tap to activate it's ability (not unlike Barbarian Guides) since it is busy actually carrying a rider, making it much worse. Instead, this is more akin flavorwise to "easy, abundant supply of fresh, willing steeds" rather than any particular number of steeds.

Also, it's not like creatures as enchantment is without precedent, since Artifact Possession mentions a Thraxodemon, and a creature can be enchanted to gain either a Thrull Retainer or a Fylgja.

Amazing art on a useless card. Always a shame.

I can see how it is considered a terrible card, but I think it would be great in a modern infect deck. If you give every one of your creatures first-strike, then they are going to nurf their blockers, or kill them outright. Of course you need a rediculase amount of mana to do that, but whatever.

See Knighthood.

Knighthood would seem to be wholly better than this. The only situation I can think of where this would be more useful is in multiplayer where you want to give someone else's creatures first strike so they can attack a third player whose creatures also have first strike. In other words, play Knighthood.