Well ... If it couldn't find same division player it could look for similar divisions.
So it would do absolutely nothing that current ELO matchmaking does except maybe increased the wait time for imbalanced matchup.
At the end, it always boils down to how many players play the game in multiplayer in chosen bracket.
Even the best, most efficient engine in the world will be perceived as bad and useless if you don't have the fuel to make it run. Same with matchmaking, only increasing player base will help, nothing else and that can be done by improving game balance to a competitive level, which means regular balance patches and advertising the game so there will be stream of new players.
And relic is extremely unwilling to do any of this at the moment and while there was a period where balance patches were frequent and really improved the game, that seems to be gone now as well, one would say because balance is getting better, but clearly OKW existence and extremely stiff meta prove otherwise.