The first section, above the type line, contains their chapter abilities, and the second section, below the type line, contains any other abilities (or italicized flavor text)
Your strategy here consists of playing as many cards as you can from exile to create a lot of Treasure and generate some strong mana advantage to play even more cards
We will of course be discarding some amount of the time in this build, so Squee and Patriarchs Bidding help minimize the loss of value
All of this is to say that Oko is extremely hard to answer in combat, so it largely requires a spell to deal with it (or, as we see in Throne of Eldraine Standard, you can go way over the top of its threat generation by, for example, making lots of 2/2s with Field of the Dead)
At the moment, I'm in one of my "I think it's good, and there could be a deck that wants four, but I'm pretty sure it's not great" sort of moods