Yes, you lose some life every turn, but The One Ring is also indestructible, making it extremely difficult for your opponents to interact with, and you really should have some bounce spells to maximise the potential of The One Ring (and to not lose too much life)
Just steal that Equipment or Staff of NinSteal Artifact and Master Thief are yours to command
It could even be argued that the original, non-ex Gyarados would be stronger in a deck than its ex counterpart
PSA accepts error cards for grading if the error will not affect the cards overall grade, they do not always accept what they would consider misprints (e.g., an error in the printing process such as a miscut, typo, or incorrect printing)
But, of course, its a lottery, so if you dont hear back, youre essentially left in the dark