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Fakes will not recover and will either stay bent or leave a big crease line
That's very strong, and many commonly played 3 or smaller toughness Commander Classics are killable with this, like Hate Bears like Esper Sentinel, Goblin Welder, Flametongue Kavu, Eternal Witness, Soul Warden, Ravenous Chupacabra, and loads more
The main downside comes from the floor: Loot does nothing without a bunch of other permanents in play and gets a nice, fat target painted on its head whenever you cast it
The transformed side, Defiant Thundermaw, is possibly the best part of this card, with an effect very similar to that of Tarkirs Dragonlords that trigger any time a dragon attacks