I guess I'm very confused about what you expected out of MTGO, so I'll try to explain what I get out of MTGO.
I'm a very competitive person, and I consider myself a pretty good Magic player. I enjoy the challenge of competing against the best players, and I love the rush that comes from beating them.
Most of best Vintage players play on MTGO. You'll find pretty much all of the Eternal Weekend Top 8, and many "faceless" players who are at least as good as them. Instead of being regionally and financially restricted, an MTGO Vintage deck is not that expensive, and your opponent can be anyone in the world.
Since the prizing for these tournaments is, basically, open to anyone who can afford a deck, this leads to your average MTGO opponent being quite good. If they weren't, going 0-3 or 1-3 drop in Leagues or Challenges repeatedly would get exhausting.
The "differences" that you are noting between MTGO and paper, like that you face different decks and stronger players on MTGO, I would argue actually favors MTGO. I want to play against the best players playing the most optimized decks- and the player who's playing dozens of matches per week is just going to have a more tuned list than the person playing maybe a dozen matches per month. I'm not even going to get into the card availability discussion that comes with Sanctioned paper Vintage, but, again, I'd rather play against good players on optimized decks.