Having extra mana is nice, but youd ideally want other ways to convert your Treasures into something more meaningful
If a piece of equipment wont get Cloud to 7, equip it anyway just to get some draw power
That said, between ramps ubiquity in Commander, the fact that ramping one land for 2 mana has been good enough for many cards to see consistent play in the format for years, and the risk that Deep Gnome Terramancer will be a dead card is minimal at best, and Id call it a safe bet youll come out ahead far more often than not when playing this card

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Arabian Nights followed almost immediately after, expanding the card pool for the first time and setting the unceasing pace for the 90+ expansions and 23,000+ cards that have since followed
Items either give a passive bonus or can be activated during a turn to trigger powerful abilities