You are 1000% correct. I feel your punting pain/frustration!!!
I've been a better for 50 years, first 10 = right mug! most driven by subjectivity! next 10: I then got in a position (I started taking the F Flash turn for home shot) and that allowed me (access to the like of the J's room) to slowly bring more objectivity to my punting. During that time I became very privileged with 'access to info from X jockeys' thoughts on how their horse had just run, learning how so many horse were not able to perform at their best because of the moisture level of said track! That was energised by being privileged to the reality of how much Mr N Eales put on the state of a track! Introducing a rule of 'the cure goes back in the rack' when there is rain of the day.... Going through that slow process of 'learning' taught me the skill of Not Betting!
I share that background, as like you I am (was) a serious punter, who has found out that the more and more prior watering has become the norm, the less and less I now bet! You might recall a few years back some propaganda was coming out from Head Office or Tab? around some sort of 'Halo Effect', (I think it was around picking 3 tris in a row!!!!! with a Massive Take out btw) Well once, there was a H,E around me! I was always be badgered with "got a winner' and sometimes I might! Now a days, lol, I think I've become a 'black hole', more than likely now that if you ask for a winner! You will get a strong lecture about WHY the F would You bet into pool$ on that track! Way to hard! and I recon that form from those meetings are rather questionable going forward!
ps. don't get me started about filming of prelims!!!