1W
Enchantement
Players can't cast spells from graveyards or activate abilities of cards in graveyards.
Whenever a creature dies, you gain 1 life.

-1W is a fine mana cost for GY hate cards.
-For the same cost you get Rest in Piece or Containment priest.
-Creatures can still enter the battlefield from graveyards.
-Lifegain ist probably only situationally relevant.
-Triggered abilites still work.
-It allows for partially GY hate without shutting your own delve spells down.

Since it pretty much lets creatures untouched, i don't think this is playable.

If there was a life from the loam strategy like there are in legacy this would be interesting. But overall it's pretty weak. Ichorid, Bloodghast, Bridge and the Dredge mechanic all still work. Doesn't even stop Punishing Fire.

I'm trying to wrap my head around what possible advantages this card has vs other graveyard hate cards.

What situations would make you want to play this? I honestly can't think of a single one. I'd be willing to accept answers that aren't Vintage relevant just to theory craft.

Maybe you are a white reanimate deck (loyal retainers) and want a card to stop yawgmoth's will?!?

I'm willing to entertain any possible scenarios.

you hate snapcaster mage and lose to it, but just love the delve spells that roonedmagic4ever?

Its a GY hate card for a deck that uses its GY for creatures only. Kind of a strange card with no real current place in Vintage, but it has a niche.