Eh, if it didn't reduce attack or it allowed you to attack twice it'd be worth it. As it is it's just a hard Neg 1 that doesn't deal with any of your opponent's cards. Not terrible, just not worth playing.
I like its symbolic meaning. Black Rose is portrayed as a brutal dragon, hurting everyone who comes near it, and this furthers that motif by leaving its enemies on the field to torture.
Notably, it allows your other monster to destroy the weakened monster.
Which is nice when you also control a monster whose effect only activates if it destroyed a monster in battle, but is too weak to destroy opponent's monster, so you can have the equipped monster weaken it first.