This build has two main goals: get out some big bad flying dragons, and use the Valakut lands to continuously deal out damage. Initially there were 4x Mycosynth Wellsprings, but 2 were removed and replaced with 2x Expedition Map to allow for searching out Valakut (non-basic) lands; both the Ichor and Mycosynth Wellsprings act as food for the Arcbound Ravagers. The Lightning Bolt and Shrine of Burning Rage spells--and, for that matter, the land played after Valakut goes into effect--act as removal for difficult creatures or easy early-game damage.
In initial play tests, the deck suffered from either too little mana in the early game, or too much mana and none of the hard-hitting creatures. We tried to correct that, leading to the current build, though we'll see how that fairs in future games.
There is some contention over the inclusion of the 2x Moltensteel Dragon and the 1x Archwing Dragon. In play testing this deck, I never utilized the Phyrexian Mana element of the former, because they were entering the battlefield late enough that I couldn't sacrifice the life to get them out any sooner. The Archwing I'm inclined to keep as I've had some good play out of it even with it being returned to the hand at the end step. The Dragon Hatchlings, despite their ability to be pumped in offense, offered no defense; in fact, they were easy to kill via 1 point of direct damage, opening the field for a Tragic Slip to kill off any actually useful creatures that were on the battlefield. Not sure what to replace the Hatchlings with, though.
Originally this deck was conceived as a "virgin sacrifice" G/R deck based around the combinations of Slumbering Dragon and Deranged Outcast. Many of the current sideboard cards are from that original concept; might still do that build, eventually.