no it does not, your anecdotal evidence doesn't discount the statistical demands for an increased sample size. ALMOST never getting matches against the highest rated players as a mid or low rated player is still a match making failure. Any match made outside of 1 Standard Deviation of your current ranking is a failure of an Elo based matchmaking system.
https://www.amazon.com/Rating-Chess-Players-Past-Present/dp/0923891277
here's a source so you can educated yourself on the Elo system, sorry for not including some reading materiel for you before.
I think you should probably read a bit about the history of the elo system as that is not what it was designed for.
https://www.amazon.com/Rating-Chess-Players-Past-Present/dp/0923891277
This book explains that elo does not even out win rates. Win rates NATURALLY even out when the system finds your "true" elo because you should be matched against people of similar skill, in which case the skill levels of yourself and your opponent tend to result in a ~50% win rate.
However, this game is not doing that. Bad players are getting RNG wins due to the matchmaking CAUSING the 50% win rate.