Yes, theres no difference between the cEDH ban list and the general Commander ban list
This card debuted in 2008s Morningtide expansion, and while it does technically ding you for life loss based on the creature card thats revealed from the top of your library, if your deck is chock-full of Treefolk cards with far higher toughness than power, youll almost always be netting lifegain as opposed to losing life
Iroas Indestructible Army of Destruction: A Decklist Iroas, God of Victory | Illustration by Slawomir Maniak Commander (1) Creature (25) Aegis Angel Angelic Overseer Avacyn, Angel of Hope Boros Reckoner Brash Taunter Cloud, Planet's Champion Creepy Doll Darksteel Colossus Darksteel Juggernaut Darksteel Myr Darksteel Sentinel Epochrasite Gold Myr Heliod, God of the Sun Iron Myr Jor Kadeen, the Prevailer Myr Retriever Palladium Myr Purphoros, God of the Forge Solemn Simulacrum Spark Trooper Spectacular Spider-Man Stuffy Doll Tajic, Blade of the Legion Transcendent Master Instant (5) Aurelia's Fury Boros Charm Fight to the Death Lightning Helix Puppet's Verdict Sorcery (11) Austere Command Breaking Point Day of Judgment Devastation Harsh Mercy Phyrexian Rebirth Retribution of the Meek Slagstorm Star of Extinction Waves of Aggression Winds of Rath Enchantment (4) Indestructibility Planar Collapse Scourge of the Nobilis Squee's Embrace Artifact (13) Basilisk Collar Boros Cluestone Boros Signet Darksteel Garrison Darksteel Pendant Darksteel Reactor Diamond Pick-Axe Mithril Coat Mox Opal Mycosynth Wellspring Pariah's Shield Skyclave Relic Worldslayer Planeswalker (2) Elspeth, Knight-Errant Elspeth Tirel Land (39) Boros Garrison Boros Guildgate Clifftop Retreat Darksteel Citadel Plains x17 Rustvale Bridge Sacred Foundry Mountain x16 Wanna be indestructible and also annoy all of your friends by constantly destroying all of their precious, destructible permanents
The second reason is that Old School players actually care about Preacher to steal creatures from their opponents and sacrifice them to stuff like Diamond Valley or Ashnods Altar
