The potential card draw is worth quite a lot, and you can build around the restriction
Although building a competitive regenerate tribal deck will be impossible, specific individual regenerate cards are still powerful and do see competitive play
As Level 4 monsters, once Xyz Monsters were released, they could take advantage of the Rank 4 pool, as well as monsters that helped summon Rank 4s (e.g., "Tin Goldfish")
Their effects are not needed and are rarely used since most Synchro Summons in this deck are instant
There is the possibility you deck yourself, but I love embracing the random
By comparison to a lot of the other generals in this list, Mazirek, Kraul Death Priest is a relatively straightforward design