Vintage kept its restricted list, because some people wanted to play with powerful cards (and also because Type 1.5, aka legacy had started to take root, which, at the time, was just vintage with the restricted list renamed "banned list"), but in standard, you already couldn't play with all your cards, so there really wasn't any good reason to keep a restricted list
Illustrated by Kaja Foglio Part of the Reserved List Standard Not Legal Alchemy Not Legal Pioneer Not Legal Historic Not Legal Modern Not Legal Brawl Not Legal Legacy Legal Comp
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Ive personally been playing two copies in my sideboard of Blue-Red Murktide and have been loving it, as your opponent generally brings in more removal spells to combat your creatures in post-board games, and a planeswalker like Jace is the perfect foil to that plan