Sure, its missing protection, but thats what cards like Heroic Intervention or Tamiyos Safekeeping are for
Though it's a powerful flier if you play at night or can consistently keep it nightbound, thats basically all it is since it loses its high power and toughness when it transforms
We're going to speedrun through dungeons and get haste and pump with Kick in the Door, draw tons of cards and make our creatures lethal with Fists of Flame, untap all our creatures give them haste and cast our hand with Traitorous Greed, give trample and draw tons with Ancestral Anger
While one of the less critical areas of your deck, in that it would be super hard to hate draft you out of this archetype by taking cards from this group, it is the area that makes up the majority of your non-land deck
This could be a classic on the level of All Sun's Dawn
I'm certainly going to be chasing after Tod, and I suspect plenty of fans will be as well