While I don't think Honored Knight-Captain is an auto-include in equipment decks in Commander, especially if you are playing a lower-bracket deck or a budget build, I think it's a reasonable option for adding multiple bodies to the battlefield to equip to while also potentially finding your best equipment in a given situation
So long as this Dinosaur is on the table, one particular player is in for double damage from all sources, including other opponents
As an added bonus, it gives flying to make it harder for your opponents to block Captain America
Though our very Commander is a damage amplifier, her effect is gleefully multiplied with each additional amplifier on the table, so we include cards like City on Fire, Furnace of Rath, Fiery Emancipation, Fire Servant, and Dictate of the Twin Gods for extra Scoville units