You got a permanent for much cheaper, but you had to pay the same cost the next upkeep to keep it
Thanks to Whispers in the Well and powerful cards like Demona and Hades, thats unlikely to change anytime soon, and Blurple continues to be a meta relavent choice in the Whispers in the Well format
It might seem like an upgrade, but giving the opponent two treasures can sometimes be way worse for you than giving them a 2/2 flier
Gaining Hexproof is also super-relevant, as it turns off direct damage effects, discard effects, and a lot of graveyard hate all in one swoop
I played the deck myself for some competitive grinding back when I was into that, but now Ill usually scoop if anything I cast gets countered on turn 2 or 3 regardless of the matchup not that its not a valid way to play the game, but its just not what Im personally interested in playing against like with mono red