I agree with what you said overall (no pun intended), but OVR's problem is that what it sums up is broken...at least in terms of weight.
For example AWR still has extreme weight, though the value of AWR depends on execution skills, which, depending on position, are relatively undervalued.
Let alone the on-the-field play.
OVR's existence is part of the problem, because of what it (tries to) represents. So it became such a driving factor as a ranking system as much as it represents player skill set - which leads to manipulations to make sure some players play worse, even if it no longer represents the player's actual skill set - or his OVR might be "too high" or "too low".
If it was gone, then players would be ranked solely on skills - which then would create a more solid base for evaluating players with nothing else on the side like some say OVRs are "adjusted" so people will pick the teams in multiplayer or so that it can be "more fair", etc.
It causes more trouble than it's worth, imo.