Massive ratings deflation for blitz (and probably other game modes)

This topic has been posted before but I really think something needs to be done.

The average player at the 300-600 range is vastly stronger than 4-5 years ago. I have looked at many accounts that were rated 1000+ in blitz years ago and all of them who actually continued to play today have dropped 500+ elo despite consistently ranking 1000+ in say 2018-2020.

800 is 70th percentile now and 450 is ~40th percentile. However, I think these ratings are very inaccurate because new players have to lose something like 20 games in a row to drop to a 300 but many new accounts probably stop at a few games leaving their elo intact and messing up the percentiles.

The reason I think this is an issue is:

1. My matchups against active 350/400 blitz players are often-times stronger than higher elo's (500-700) which only makes sense if newer accounts are polluting the ratings and matchups.

2. Elo and tracking growth just becomes meaningless when 5 years ago a 400 would be someone who barely knows how to play and doesn't know any thoery and today a 400 would actually have surface level understanding of chess theory

I welcome criticisms and disagreements. I know many will say ELO is meaningless and just tracks a measure against the pool of players on chess.com but my counter is that ELO is more helpful if it's consistent over time and it obviously isn't nowadays

erm