Yes, monarch triggers at your end step and can change designations when combat damage is dealt
Flying is typically the most common means of a card falling into the Evasion category, and in an environment where efficient removal is typically hard to come by, it makes evasive creatures like fliers extraordinarily dangerous if you can fight your way to at least an even board state with your opponent
This is because when this seven-mana 7/7 enters the battlefield, its controller can search their library for up to five Dragons with different names, revealing those cards, and putting them in its owner's hand
When a "Yang Zing" monster(s) you control is destroyed by battle or card effect and sent to the Graveyard, while this card is in your Graveyard: You can Special Summon this card, and if you do, banish it when it leaves the field
In this cards case it actually can get bigger and might be a great fit in your spellslinging EDH deck