Phasing out doesn't cause permanents to leave or re-enter the battlefield, so no "leaves the battlefield" or "enters the battlefield" abilities will trigger
Short and sweet
Rest in Peace effectively shuts down decks that rely on their graveyards, but this also generally relegates Rest in Peace to the sideboard instead of the main deck
A 'power 5' themed deck could take a twist of just running creatures that meet that criteria, with cards like: Terastodon Archetype of Endurance Ruric Thar, the Unbowed Spearbreaker Behemoth 8 Arna Kennerud, Skycaptain Master At Arms The Human Knight Esper Arna Kennerud, Skycaptain is an absolute powerhouse that doesnt require any fancy combos or game changer cards, instead, you can just beat face with a very strong creature and a ton of auras and equipment
Pillar Analysis Extreme Scarcity | Unique History | Prototype Power 9 29
Its been around for a long time, seen plenty of reprints, and still sees some play