Exiling two target permanents (any permanents) is a nice way to turn a game around, and even if your opponent can keep chumping it, Ulamog will just mill them out in a couple of swings, anyway
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These go on the Stack at the same time, and you can choose what order they go in - but each effect is identical, so it really doesn't matter
If either lives long enough to go to work then things can get crazy fast
So, if a creature with double strike and a creature with first strike have enough damage to destroy each other, they will kill each other in the first damage step
What makes its random ability even funnier is that it is an 0/2, meaning it is likely to eventually kill itself