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I usually dislike getting foils, because I have no interest in collecting them and certainly in MtG they are unplayable due to curling

Village Rites offers a similar effect for a lower upfront cost, but not allowing you to sacrifice an artifact makes it a bit less flexible, and the Treasure is a huge addition to this effect

As this ability notably allows you to copy triggered abilities, you can use the Peregrine Dynamo to copy the loyalty abilities of impressive colorless planeswalkers such as Karn and Ugin cards

It isnt ground-breaking by any means, but its a solid game piece for a Golgari deck running dredge or other self-mill tactics