Sure, the card is popular and helms over 12,000 decks on EDHREC, but its not the most popular Commander ever
An economical 2/1 for a single red mana, not only does Ragavan generate a treasure token when it deals combat damage to an player, but it also exiles the top card of that player's library upon doing so, allowing that card to be cast by Ragavan's controller that turn
As you can see, this format has all of the mana you need but just one spell cast per turn, so only copying one per turn won't be a restriction, and getting the copies for free each turn is big value
Shichifukujin is the name of the Seven Deities of Good Fortune of Japanese mythology
Developers had to focus their efforts into ensuring the competitive scene wasnt completely shut down