It is removed from the game and placed into the exile zone, where it loses all memory of its former state (any damage incurred that turn, enchantments, counters, equipment, whether it was the target of any spell or ability, and any other effect)
Frail, yes, but repeatable, HELL YES
The darkness of the blue, the appearance of the swirl, the color payoff of the yellow, and the overall tightness of the card can look different
Unlike the kind of advantage afforded by something like Temur, Bant doesn't need to take a ton of actions per turn once it gets going
Giving another creature -2/-2 might not seem like much, but this will most likely have more than one counter on it