Judging by what I've seen, I don't think it really has dampened the spikes as much. I don't see one country outnumbering the other two combined as being any less of a numbers spike. So maybe it's a different country now, and maybe the new underdog just fights instead of whining.
Further, fighting 5 or more players in ENY 35+ planes alone in an ENY 5 or less plane leaves you still facing 5:1 odds, and just as likely dead, if you are an average player. You MIGHT live a minute or two longer, and maybe even score some hits, or possibly a kill. But you'll still be just as dead. Facing 5 P-40E's in a Spit XI is not a great deal better than facing 5 LA7's in a Spit XI. And even if the ENY system converts it from 5 LA7's to 4 P-40E's, big deal.
When a country with as many people as both of the others smells a reset, or whatever drives them, they'll fly whatever they can to go for the reset. Unless at least one of the other two countries is well organized, they'll still be over run. The best the ENY system offers is a prolonging. Oh, and the opportunity to feel better because you're getting killed in a plane with an ENY rating 1/8 that of your 4 or 5 enemies because they can't have planes with an ENY rating nearly as good as yours.
Hey, you had to do something, so you made a decision and followed through. You could have done worse, or you could have done better. It worked out okay. That makes you human, and a pretty decent business man.