I think the idea is really cool, just the execution is not as good as Id like
Cards like K'rrik, Son of Yawgmoth and G'raha Tia, Scion Reborn offer powerful abilities that cost life to activate
With effects that range from slow, steady sources of damage that drain your opponent 1 life at a time to massive spells that consume half their life at once, theres a life loss card for any strategy
I do want to note a unique interaction red has with the life gain theme, which is that its big damage-dealing spells can be granted lifelink by either Judith, Carnage Connoisseur or Firesong and Sunspeaker if you want to get absolutely weird with it
It's currently going for north of $1,100 right now, so it's not exactly affordable either, but the chances are you'll save money on opening booster packs