When you also make Ally tokens with one of the many engines or X spells available, giving them haste and a +1/+1 counter begins to be very good indeed
Channel and Sneak Attack don't have similar rules text, for example, but they overlap in their ability to do broken things with big colorless creatures, so you might pick up a Sneak Attack to support your early-pick Channel, and then prioritize the legendary Eldrazi creatures, Blightsteel Colossus, and Sundering Titan over a card like Karn Liberated, which only works with the Channel plan
Any "as [this creature] enters the battlefield" or "[this creature] enters the battlefield with" abilities of the chosen creature will also work
Also, its one of the few potential self-mill cards that actually interacts with energy
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