His arrival in Azurite Sea has been an incredibly long time coming, and his retro, black-and-white art certainly stands out from the rest of the set
This opens the door to repeatedly copying Creatures with powerful enters-the-battlefield or attack triggers, generating more cards, removal, mana, or combat pressure turn after turn
Getting Lifelink by default is good and can help you regain any life lost, so you can get the main reason for this card - +5/+5 and Indestructible
Tokens will be created for each of your opponents, not just opponents that you attacked
This can be very strong on its own because it means that opposing players will have to discard some of their cards if Kefka is left unattended, and the user can discard valuable combo pieces in order to later retrieve them with the Commander staple called Underworld Breach, particularly if comboed with Lion's Eye Diamond to create infinite mana and then win the game
The rest of your deck is not so resilient to a board wipe - and a board wipe can seriously set you back, though you can usually hold up a counterspell or two to protect your ninja army