I think part of the problem for me is that there are a shit load of characters, and we have no idea who the focus is on, not really. Phase 1 and 2 were easy; once enough movies were out, we knew who was an Avenger and it was nice and condensed. the problem is though is that there are potentially 20 main characters, and so the focus feels everywhere. So once a new Avengers starts up, who is going to be there? Will Captain America? Will Bucky? Hawkeye? Dr Strange? Ms marvel? moon knight? Shang Chi? etc etc. The list goes on and on. And then we have Thunderbolts and Young Avengers and that is not even without having X-men and Fantastic Four.
It has lost a lot of its focus now, and now threads are everywhere. Thats kind of my issue with it. I know a lot of people don't share my view, and that is fine :P