I think the issue goes beyond matchmaking. I'm having fun with multiplayer, and will probably go play again once I finish writing this, but more than a few games have not been fun because of how lopsided they were, both in my favor and in my opponents favor. The biggest problem is that upgrades do not increase the value of ships; this is completely broken. A level 1 anything is not the same as a level 6 (or god forbid 10) ship of the same class, and even extra points don't even the field. I'm sure everyone here has a similar story, of both getting spanked and also spanking a newer player (or profile), knowing they never had a chance against your ships.
And honestly, that's not that big of a problem; one sided battles can be fun, where you try to pull off some small victory against your opponent before you're destroyed. The problem is that after you lose, your ships are busted or lost in the warp, you have to pay to repair them, you may not get xp because they were destroyed, and all in all you find yourself at an even larger disadvantage in the next game. I would happily fight level 10 admirals if I weren't going to be punished for it.
Here are the changes I'd like to see:
1. Change persistence for ship damage to an opt-in league. Do this and 90% of the complaints will go away, and when players are up against a superior foe they'll just have fun with it.
2. Find a way for upgrades to be included in the point value of a ship. Duh. I'm shocked and amazed that this wasn't brought up and fixed during beta, because it seems so obvious. In TT, you pay for upgrades to your ship; did they think it would be different on a computer?
3. Change the game lobby to allow for customization. If I have only one capital ship left after being spanked, and my next game is a 660 pt cruiser clash, I'm screwed, and it won't even be fun. Rolling for scenarios is a bit weak but I can live with it; having no ability to change the number of points I want to play is not okay. And again, if Tindalos wants to enforce the matchmaking restrictions, let it be an opt-in ranked league, and let the rest of us have a bit of say in the games we play.
The other option here is to create one off games where you and your opponent agree to a set number of points AND a set amount of renown. If both those numbers are equal, then the fight should be too.
4. Give us a way to leave the game from the lobby. I know this will be abused, but again, opt-in league. I play Eldar primarily, and I know there are plenty of people that groan when they see that, and you know what? Fair enough. Sometimes you don't want to deal with the kind of game that comes with certain opponents, or play against an admiral four levels above you, and that's fine. You shouldn't be forced to play a game you don't want to play; after all, you paid them, not the other way around.