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BlueScope on How does Melee work with …
8 years ago
I entirely agree with Gidgetimer here... on top of that, I personally feel that EDH is a format where you get to play all the awesome synergies and mechanics that you couldn't in other, faster-paced formats. For me, an EDH deck needs to be either centered around the commander or it's abilities, or needs to be unique in general in order to be interesting over a longer period of time (which is commonly what EDH decks are built for). Adriana seems to offer none of the above and is more of a "do more of the generic attacking thing" commander, which doesn't appeal to me personally.
Also, keep in mind that with a decreasing player count, your Melee bonus will also decrease, meaning your opponents might wall in in order for you to do the work killing everyone else, eventually beating you with no opportunity to fight back, as you only get +1/+1 each combat now.
Also, if you directly compare the interaction you described to Finest Hour + Rafiq of the Many (which also transfers the Exalted bonusses over to the second combat step), I'd consider the latter to be extraordinarily stronger, both for the reason that it's not limited to the amount of players you're facing, only by the amount of Exalted permanents you control (so your deck's growing stronger, not weaker, over time), as well as you having access to three very potent commander colors.