This fascinating setup achieves infinite combat phases by cleverly bypassing Combat Celebrant's built-in restriction using Displacer Kitten. While Hammer of Purphoros grants your attackers haste to get things moving immediately, the true engine relies on the creature equipped with Spellbinder dealing combat damage to trigger a free copy of an imprinted instant. Because that copied spell is noncreature, it triggers Displacer Kitten's avoidance ability to blink Combat Celebrant, resetting its "exerted" status entirely so it can be exerted anew in the next combat phase.