A more balancing game might make the tournaments more entertainting and fun to watch and participate, but the majority of players play ranked games, and therefore, I am not sure whether the balance is the only issue. It is much more complicated than say WOW 3v3 and 2v2 deathmatch. One important factor is that the maps have more objectives and hence map rotation is more important than mechanical skills.
Therefore, to me, the bigger issue is that the majority of players do not know how sPvP works. And to makes things worse, many bad players would not listen to advices from good players. Sind was told that thief is not dps and hence should take close; some players just think node is everything, and hence tunel vision only on the node; some players think should get the beast every time its up, even when there is a tf going on near it~ And the arguement goes -- its 25 points and have stats. The scrary thing here is that they think they are completely correct.
But this is not the players fault, they do not have any source getting useful information of what to do in pvp. ANET should provide some tips in the mist to at least explain some slightly higher than the very basic concepts such as: bleeding, kiting 1v2 is better than dying on node (except a few cases where the score is 490, and hence you just need to hold a bit to win, or you need to get the bell to secure the win), the concept of snowballing etc etc.
Otherwise, no matter how balance is the game is, its still unfun to play if most players does not know what to do.
also, remove the total game played and PvP level component of the matching algorithm.