One of the biggest problems with making any sort of power scale is the concept of a decks "budget-ness" being considered.
Budget decks can be extremely powerful. A mildly degenerate commander piloting a deck full of less-than-$1 can be built optimally and can still stand against most non-budget casual decks. Also a non-budget $20k decks can be vanity casual projects.
It's a shame that this game has such an exploitable financial market associated with it. Many problems would vanish if some cards like mana crypt/mana drain/ancient tomb/etc were reprinted to death and cost nothing.
It worked though... *points at the popularity of the format*
Idk about their involvement helping the formats popularity. Looking back over the past 8+ years my interest has grown mainly due to the loss of extended, the gradual decay of modern, the lack of legacy support, and a personal hatred for standard.
Many content creators have voiced a similar situation, where edh has kinda just defaulted to being popular since wotc has repeatedly made it clear that older formats are not how they make money.
On top of that, while I love the core flavor and concepts of edh, every time a needlessly random rule change or ban occurs, I just want the RC to stop tampering with the format.
It's understandable for those who control the banlist and rules for major formats like standard to tune and ban frequently, since they have event results, mtgo data, arena data, and access to hundreds of employees that can understand the dynamics of a format at any given time.
But a handful of people deciding rules for an entire format based on very little data and personal opinion is just bad.
You are not overreacting at all. I've played with two of them in previous events and both exuded this feeling in person.
The unfortunate part is that after years of this with many people voicing similar opinions, there really hasn't been much change to how they advocate their format "should be played."
The best advice is for you and your local meta to develop your own banlist and regulate it as problems start showing up. Just make it fair to every member of your group, as some people like cards and strategies that others do not.
This has been my tables best approach. But it does cause problems when we go to events or stores and play with strangers. I run many many decks, so it's no problem for me to have a bag of edh decks specific for outings, but not all of my friends can afford this. They would rather keep their decks designed for our local meta and tend to just borrow from me when out.