Exalted appears on Bant cards in the Alara block. When a creature attacks alone, it receives +1/+1 until end of turn for each permanent with the exalted keyword that player controls.
Exalted is based on the world of Bant where for wars, instead of the bloody massacre we have in the real world, Champions are sent to fight to settle matters. In Bant however, these champions are empowered by those whose cause they are fighting for.
For this I am going to take a stretch and go with a bit of a more social model of a game. Exalted seems like a good mechanic to explore rewarding players for mentoring and helping along newer players. I am imagining some sort of fealty system for a game were newer players align themselves with older players and Players gain something meaningful for having many/well-off subordinates. Perhaps things like being able to build castles or eventually even cities could be unlocked through such a mechanism. Allow your subordinates’ subordinates to count for you at a reduced rate as well.