I used to play this game very often, but I stopped due to the matchmaking system being broken (at least in my experiences). I kept getting in lobbies with the enemy having overall better equipment, weapons and armor. Did the game update the matchmaking system, and how about the TTK?
The most recent build before now had TTK too short, but that's been fixed in the latest update. It's still due a hotfix or two, probably, but heavily-tanked suits are able to handle a decent amount of hits before dying.
Matchmaking hasn't changed much, it's pretty much luck of the draw, and most of the experienced players form into squads. Part of the problem is that when you've got an organised squad on the enemy team (which is usually the case), they're most likely working together, and while they might have better gear, it's rarely THAT much better. Their main advantage is communication and coordination, and the extra edge of their gear just adds to that.
Also, because you're not being killed by them, you will rarely notice the highly-skilled and well-equipped squads who are on your team. If you're running alongside a group of good players, but you're constantly getting killed by a group of good enemies, you'll only see the enemies popping up with their Protosuits killing you.
DUST is part of New Eden - the world of EVE Online - and New Eden is a cruel place. Patience can make you great though. Stick with it (or keep coming back regularly).
The latest build has revamped a lot about how Infantry works, and they've added new weapons and cloaking devices and things. It's pretty fun for me at the moment, but I won't say it's for everyone. If you don't like it, look back again in 3 - 6 months, and see how it looks then. If you enjoy it, play until the next build, and re-evaluate.