This loop relies on the fascinating interaction between Overwhelming Splendor and Malevolent Hermit's transformed backside, Benevolent Geist. Normally, Benevolent Geist would be exiled if it were to go to the graveyard, but Overwhelming Splendor strips away that replacement effect along with all the creature's other abilities. This allows you to repeatedly cast Malevolent Hermit from your graveyard using its disturb cost, sacrifice it to Phyrexian Altar for mana, and bypass the exile clause entirely. Meanwhile, Semblance Anvil provides the vital cost reduction to make casting the card from the graveyard infinitely repeatable.