tl;dr Just after Icaria, one of the most iconic cards in the game, got nerfed and basically kicked to jank tier, we got an even stronger finisher -
Caiphus, Wandering King. While he isn't as consistent as Icaria regarding his abilities, getting 3 abilities on summon is just broken in combination with cards like
Dark Return. I piloted this list to top 400 Masters (don't have that much time because of my job) and I feel it has great potential. You can read the full description in the follow-up.
MAIN DECK
Dark Return - brings back the best unit for a situation and just wins the game with Caiphus
Sabotage,
Shakedown - essential to disrupt the enemy's strategy (and strip them of merchants and removal)
Annihilate - Shadow staple, we all know why
Ripknife Assassin - the great combination of abilities makes him useful both early and late game
Teacher of Humility - one of the strongest 2 drops in the game, still very dangerous even after the nerf
Vara's Choice - while Xenan lacks cards like Slay, this card doubles as removal for problematic cards like Tavrod and can further disrupt your opponent after a merchant/Rise
Vara's Favor - power source that doubles as removal for Initiates, Trail Markers, grenadins, etc
Ayan, the Abductor - phenomenal unit that wins the aggro matchup, puts pressure on control and shines in the late game
Banish - while not being able to deal with Tavrod, Makto, big Sword etc. it does a great job as modular removal
Kerendon Merchant - the ability to put pressure on the opponent gave him the edge over Auralian Merchant
Sandstorm Titan - everyone's favorite sentinel!
Vara, Vengeance-Seeker - huge threat and another devastating target for Dark Return
Caiphus, Wandering King - the main win condition that can easily get out of hand if you get a high roll (Killer + Quickdraw, Charge + Berserk + Double Damage, etc) and gets better and better with each Dark Return
Market
Dark Return - having an extra never hurts in this deck
Vara's Choice - same as Dark Return
Burglarize - gets rid of problematic attachments
In Cold Blood - a bit too slow for the main deck, shines in certain matchups when pulled from the market
Azindel, Revealed - while it may seem as heresy not to run Azindel in a Xenan deck, he is more suited to come out of the market and grind out the opponent. I had him maindecked in previous iterations of the deck and he always just clogged up my hand because the deck doesn't run
Worldbearer Behemoth,
Power Stone or similar cards.
If you have any questions, hit the comment section!