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In any Commander deck with blue and evasion on the Commander this makes sense, as well as combat damage trigger Commanders that already run the expected Rogue's Passage and Whispersilk Cloak cards to get in hits, so you can run this

If you build up to the ultimate, you can even win the game outright

Using spot removal on Avenger will certainly slow down the death but having so many tokens left over is usually too much value for those kinds of decks to beat

If a permanent phases out, its status changes to phased out. Except for rules and effects that specifically mention phased-out permanents, a phased-out permanent is treated as though it does not exist

Finally, The Eldest Reborn allows you to return a Creature or Planeswalker from any graveyard into play under your control