Could you elaborate why that is the case?
The game will try to match your ELO with similar ELO players on the other team. If you lose ELO, you also get matched with worse players on the enemy team. Why should your ELO go down but you still get upmatched?
The issue is that the match making algorithm seems to make odd decisions especially in team games and creates hugely unfair games every once in a while.
Basically the whole problem is not with ELO ranking in and of itself, rather how the game uses it:
Lets say that in the last few games I suck hard right? Let's say -5 streak. Naturally, I will lose ELO points, my opponents will get them ofc and normally I would play with lower-ranking opponents so as to make the game fair.
The problem with COH2's implementation of that is the fact that they filter your teammates by elo, BUT not your opponents. Hence, ELO hell.
If you have -5 streak it is very likely that you will end up with a teammate that is also on a similar losing streak. HOWEVER, it is no guarantee that your opponents will also be at the same level ELO-wise, and if you work that out using induction, almost always you will be playing against better teams (or even worse, arranged teams) whilst at the same time the quality of your teammates will continually erode --i.e. ELO Hell.