I like the 5e bounded accuracy. It feels more real. The concept of a town army going after a dragon wouldnt even be thinkable in 3e but can happen in 5e.
The only frustration with the boundedness is the narrow amount of bonuses available between best and worst. Example, it is difficult to quantify the different kinds of armor in any detail, or award bonuses for individual pieces of armor, or layering armors. But maybe with regard to armor, vague abstractions of Light Armor versus Heavy Armor, maybe with a Medium, are a better design approach anyway.
Overall, especially in the context of a d20, bounded accuracy works great.
Armor is bad in 5E as it was in previous editions.
there is an illusion of choice, but it all default to 2 or maybe 3 base armors from PHB and possibly adamantium/mithril/dragonhide version of them.
now you have Studded leather for light, maybe if your DM is generous you can get dragon/basilish/hydra hide as optional material.
halfplate for medium if you do not care about stealth or breastplate or mithril halfplate if you do care.
for heavy armor it's fullplate, maybe mithril or adamantium version if you can afford it.
rest is just waste of print space in PHB
might as well make generic AC armor and flavor it as you want it, with special properties from expensive/rare materials
Light armor:
13+dex(max 4), min str 8
14+dex(max 4), Stealth penalty, min str 10
medium armor:
15+dex(max 2), min str 10
16+dex(max 2), stealth penalty, min str 12
heavy armor:
17(max dex 0), min str 12
18(max dex 0), stealth penalty, min str 14
19(max dex 0), stealth penalty, move penalty -5ft, min str 16