So a deck that more or less cannot beat Friggorid, struggles against Heartbeat, and struggles against Scepter-Chant (especially since Morningtide shuts off a huge part of your deck) is supposed to be competitive? Even Goblins and Affinity look like they'll be tough matches for you, because they'll be smashing your face in while you are busy cycling lands and only providing possibly Mongrel or Putrefy as speed bumps. Your deck is fairly slow, and the only way you have to push expensive spells like Thoughts of Ruin through counters is Cabal Therapy.
So, what exactly makes this better than either Madness Tog or CAL?
I have seen this deck beat Ichorid and have done so myself. Terravore gets freaking huge really fast when they are Dredging the crap outta there deck. The only thing you really need to watch out for is a huge flying Tog. Otherwise Assault does it's thing and kills everything they play. In fact Assault makes every aggro match incredibly easy when resolved early on. Putrefy, Cabal Therapy and Genesis shine against Chant. Having maindeck artifact destruction makes the matchup far easier and not just scooping to the decks namesake cards.
AggroLoam is better than Mad Tog because it can kill outside of the combat phase, has a better draw engine, as well as being more versatile.
It's a better Dredge deck than CAL because it is more streamlined and the aggro element provies a good defense as well as a formidable offense, and a far less ugly mana base. This deck is also faster than CAL.