It can provide a much-needed boost or some padding to your life total that lets you make riskier plays later on, on top of denying your opponent a spell
Multicolor Boros Charm Unflinching Courage Aurelia, the Warleader Ayli, Eternal Pilgrim Drogskol Reaver Halana and Alena, Partners Immersturm Predator Maelstrom Pulse Ovika, Enigma Goliath Prime Speaker Zegana Wilt-Leaf Liege Dreadwing Scavenger Fiendish Panda Perforating Artist Wardens of the Cycle Empyrean Eagle Heroic Reinforcements Ruby, Daring Tracker Tatyova, Benthic Druid Cloudblazer Deadly Brew Dryad Militant Enigma Drake Garna, Bloodfist of Keld Mortify Savage Ventmaw Teach by Example Trygon Predator Consuming Aberration Boros Charm and Unflinching Courage are in traditional foil
Which reminds me, I still have to order some Undercity Sewers
When you Infernal Grasp a Werewolf Pack Leader everything is cleaned up, but the same exchange against the most-played three-drops in Standard leaves you down some other advantage even if you are up a mana
Maybe you have a Grave Titan lying around and you want to replace Siege-Gang Commander with it, or maybe cut a draw spell like Deep Analysis for another strong creature
Cards that care about discarding, like Waste Not, only work with effects that explicitly discard a card from somebody's hand