Magic is the best game I’ve ever played, and it’s been my primary hobby for about 17 years now. Needless to say, I strongly disagree with several of your points:
(1) There are rules. Tons of rules. And while they have changed over the years, almost all the changes have proven, in the long run, to be for the better. And having the rules is part of what makes the game so amazing, in that even with the tens of thousands of cards leading to millions of possible interactions, it’s almost always fairly easy to decisively and concretely determine what should happen, even though you might be seeing three cards interact in a way that no human has ever seen before. The rules are still VERY complicated overall, but the vast majority of situations do in fact have a clear and precise answer, meaning you don’t have to have every game devolve into an argument about what order things happen in, or what have you. And having cards break the rules is a GOOD thing. For instance, there’s a card called Doran the Siege Tower which is a creature that says that creatures deal damage equal to their toughness instead of their power. That’s something that just takes a basic facet of the game and utterly flips it on its head… and it’s awesome! It’s something which is simple and clear and easy to understand, yet which potentially makes every creature on the battlefield do something somewhat different than what it did before. Rule-breaking and rule-changing cards like that are part of what make magic great.
(2) There aren’t hydrogen bombs any more, and there certainly aren’t anti-hydrogen-bombs. There are close to zero examples in magic history of cards that were printed solely to interfere with other specific cards. There are some cards that are printed that are good against groups of cards, or general strategies, but that’s usually a good thing, as it keeps things from being too dominated by everyone doing the same thing. There are certainly still cards printed that are better than other cards, but the difference between the first-best and twentieth-best card in a given card set is much smaller than it used to be. (There’s also been a change recently towards having more of the really powerful cards be creatures, on the theory that creatures are fun and interactive and should be what magic is all about, as opposed to instances and sorceries and artifacts.)
(3) Most importantly, most of your (and others’) criticisms seem to assume that everyone is playing competitive constructed magic. Yes, in tournament-level competitive constructed magic, you need 4 each of lots of powerful cards. And they usually cost money. And they rotate in and out of legality with some rapidity. And no matter how creative you are, someone else can almost certainly look on the internet and find a very well tuned deck that is better than yours. BUT, and this is a huge but, there are plenty of types of magic other than competitive constructed. Arguably he most important is limited, in which everyone shows up effectively owning zero cards, then everyone gets a random collection of cards (sometimes just randomly opened out of packs – “sealed deck” – and sometimes chosen one at a time so there’s skill involved – “draft”), and then you build your decks and go from there. So everyone’s on an even footing (barring luck of the open), you don’t have to own a single card at all, and you only have to know about the several hundred cards in whatever expansion you’re playing with, and really only about half or so of those are likely to be played with. The big drawback of limited, of course, is that you have to keep buying new cards… it probably costs somewhere from $10 to $30 each time you play, depending on various things, but of course you will then get cards that you can hopefully sell some of back to the store, you might win prizes, etc. (99% of the magic I play is competitive limited.)
The other major form of magic is casual constructed, ie, playing for fun. For instance, there’s a format called “Commander” which is very popular in which there are basically never tournaments. In Commander you play with a larger-than-normal deck with particular deck construction rules which encourage maximum variety, and it is usually played multiplayer. You can certainly build a single commander deck which you play basically untouched for years and years and years, and you for the most part won’t run into the some of the more “grief-y” types of constructed decks.