It will excel in some decks more than others, that much is true, but where itll shine the most is in builds that want to do fight spells and deathtouch, or mess with dealing damage and using damage redirect effects
(Scryfall note) If Welcome to leaves the battlefield before its first chapter ability resolves, that ability will have no effect
What takes Stoneforge up a notch is she can be flickered and/or recurred for value
There is also Silverglade Elemental and obviously Wood Elves , I used to run the latter and use it as a Natural Order target
Activating that rat-doubling ability requires a sacrifice, unlike Krenko, which works well for a mono-black death strategy and pairs nicely with the rats that are good sac fodder or sac and death payoffs
As I said, this format is defined by the pursuit of subjective goals over competitive advantages