The format’s power level is still too high so I think you’re right. The only way to fix Standard is to systemically and deliberately lower power levels similar to what was done after Urza’s block and Mirrodin block. R&D has doubled-down on FIRE design, however, with the philosophy of “If a card gets out of hand, we can just ban it.”

Really wish I could rub their faces in MaRo’s post-Affinity ban article from 20 years ago where he talks about why bans are bad, even when they’re necessary. There’s a reason no one is playing Standard anymore. I suspect WotC is juking their stats to maintain the lie Standard events are firing in order to appease shareholders.