high power is fine when most things and archetypes can compete at high power
what you are referencing is the unbearable UG-dominance standard that was just people slamming value engines at each other or you dying on turn 3 to embercleave, spiced up here and there with a bit of cat oven. it was boring as shit, replaced by ultimatum-or-embercleave with cat oven, which was also boring as shit. 3feri was such a stupid mistake of a card
Sortof like how Khans enabled 4c goodstuff, so everyone was playing 4c goodstuff, and then abzan rhinotrain became half of the meta in its own time, and then temur energy was dumb. It just rarely works out that there's an interesting metagame, so you just hope the mirror is better. Modern pre-MH2, pioneer, vintage, legacy - even pauper all do a better job of having lots and lots of high-powered decks that keep each other in a sortof equilibrium.