Matchmaking sucks and the only argument I've heard supporting it doesn't make sense

I see people talking about why they go on massive losing streaks after going on a decent win streak and the response is usually "Matchmaking pairs you with allies and enemies that grant you about a 50% chance of winning." I don't get how this is an argument saying how matchmaking is GOOD because it should be giving me better opponents and team mates to match their skill level. Not give me an objectively worse team to play with. And in regards to ranked matchmaking it gets even more confusing because you're telling me that having opponents ranked higher than me and with teams ranked lower than me I have a 50% chance of winning... but I don't belong at their rank? And if I win I get the same amount of lp as the guy who played like a shitwagon? In normals I can understand having dysfunctional matchmaking because players are going to be playing for different goals (crit bard playing to have fun with a troll build, tristana playing to practice ranked, etc.) But ranked I just don't understand because that's when players are theoretically trying to win and drafting 2 teams that are roughly the same skill level shouldn't be as hard as they make it out to be. But what do I know I'm just someone annoyed and confused that the majority of my losses are because 1 or 2 players are under performing
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