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It forces your opponent into a game of "block and lose their creature or let you cast a spell in their graveyard." Since it's a one-drop, you can get it down on the battlefield at any point, and potentially start taking advantage of it as soon as the second turn begins
It is likely that over time we will get better and better alternatives to Woolly Thoctar, but for now this card is very good at its job
Generally, they're not as sought after as Base Set, but the rarest first edition cards from these sets will still be extremely expensive, especially in good condition
It also has background, which helps branch into another color or support the deck overall