As many players were expecting, Wizards released a new Banned and Restricted announcement on October 12th, 2020. After the results of the 2020 Season Grand Finals, it was pretty clear that there needed to be a shakeup for Standard. Omnath, Locus of Creation was rampant, and as we talked about on last Sunday's QS Insider Cast (which you can hear live every week in the QS Discord), there was almost no way Wizards could avoid doing something about it.
Omanth, Locus of Creation, Lucky Clover, and Escape to the Wilds are all banned in Standard. In Ian Duke's explanation, he states that with the removal of Omnath strategies, their data suggested that Adventure decks would dominate the format - thus the Lucky Clover ban. Escape to the Wilds was removed from the format to ensure that ramp decks would be kept in check.
Omnath, Locus of Creation is now suspended in Historic, Teferi, Time Raveler and Wilderness Reclamation have been moved from the suspended list to the ban list, and Burning-Tree Emissary is now unsuspended.
Omnath, Locus of Creation is also now banned in Brawl.
Will Omnath's price crash with the banning? With it still seeing play in Modern and Legacy , there's a good chance it will be able to maintain close to its current price point.
For the full explanation, check out Ian Duke's write up on The Mothership.