Because of the newness of the format, it's really difficult to learn much from these bannings, and things are further complicated by the fact that in the early years of the format, Wizards used a restricted list (much like we have in Vintage today, where you can only play one copy of a restricted card in a deck) alongside the banned list, and while many cards were restricted in the early years (Balance, Fork, Zuran Orb, Black Vise, Land Tax, Hymn to Tourach, and Strip Mine), only two were outright banned
Initiative functions similar to Monarchwhich was first seen in another Commander-focused set, August 2016s Conspiracy: Take the Crown and allows the player that has the Initiative to venture into the Undercity (a specific dungeon) at the beginning of their upkeep
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To understand these new cards and what makes Wilds of Eldraine so different from Throne of Eldraine, we need to delve into the past of the set and understand what made Throne of Eldraine so broken when compared to other Standard legal sets in Magic: The Gathering