The recent matchmaking update was supposed to fix these issues, but it appears to have made them worse. I've seen a lot of people complaining about this lately.
To start, it's taking forever to find a match now. Last night, my team (of 30) was matching for 3 hours. This normally takes less than 20 minutes.
After three hours I'd think that it would find a pretty equal match for us, but it didn't at all. The team we got paired with has more than double our MP and will beat us easily. This seems to be a pattern. Since the update, we've had maybe only one relatively even match. All of the others have either been extremely difficult or extremely easy.
The one thing I do like about the update is that if both teams don't have a multiple of 5, more players can participate. But overall, there seems to be something wrong with the matching. For reference, my team is top 200. Has anyone else noticed this? Is this an issue in other levels or just the top 150 - 500 range?