Revenge is a very problematic mechanic. First off, one has to ask the question, what does revenge mode set out to accomplish, from a game design standpoint? Its ostensible purpose is to make it so that when one finds themselves in a 1vX scenario they do not get spammed to death by attackers without any chance to fight back or accomplish anything. Does it succeed at this? Sort of, but it does so in a grotesque and heavy-handed way. I will expand on that in a minute, but before that, a second question must be answered. Does the game benefit from such a mechanic?
That is a more complex question to answer. First of all, what would happen with no revenge mode? Players would quickly find that being alone and without backup in dominion would result in a very unfun and frustrating experience, and we would probably see an increase in either four man roaming packs or three man roaming packs with one player attempting to ninja unoccupied zones. The metagame would most likely shift towards 4v4 teamfights or 3v4 stalling fights while one player captures zones. This would require more cooperation, and would therefore be harder to accomplish with teams of solo players. So revenge ultimately exists to improve the experience of solo players, who are more likely to get caught without backup than coordinated teams.
Does revenge accomplish anything it shouldn't? In the pursuit of improving the experience of people being ganked, are there any unintended, undesirable effects? I would say yes. The existence of revenge makes it so that positioning decisions that should intuitively be poor can actually be a viable strategy, if the players are good enough at utilizing revenge. At bare minimum, they can, despite being caught in a situation which SHOULD be a big disadvantage, stall two or more players by themselves for long enough for their teammates to accomplish objectives, or outright wipe half or more of the enemy team. It is extremely counter-intuitive that two people fighting a single opponent should result in LONGER kill times than one person fighting a single opponent, but this is very often what happens due to how effective revenge mode is at stopping in their tracks people who should have the strategic advantage of outnumbering opponents.
Earlier I said revenge is grotesque and heavy-handed. What I mean by that is that the effects it has are so incredibly powerful that it actually makes people with revenge completely unkillable, outside of the black prior feat which removes temp HP. Revenge adds almost an entire extra health bar of temp HP, as well as improved hyper armor (immunity to all knockback) to all attacks, including guard break, a guard break that bypasses guard break invulnerability, a sizeable amount of extra damage and an AoE parry on activation which knocks down attackers. The only counterplay to someone in revenge mode is to turtle, try to avoid getting mixed up, and wait out the revenge mode. The increased damage awarded by revenge allows characters with revenge to kill in a smaller number of mixups, and the other benefits of revenge allow them to attempt several, risk free mixups.
So, players who make strategic decisions which place them into what should intuitively be an advantageous position (outnumbering the opponent,) are instead placed into a position where failure to successfully mix the opponent up will actually put them at a huge disadvantage. 10/10 times, I would rather be in a 1v1 than a 2v1 with an inexperienced ganker, and I would rather be in a 1v2 against inexperienced gankers than a 1v1. This is totally counter-intuitive to new players and extremely frustrating to experienced players who play alongside them.
What is the solution? Personally, here is what I have to contribute. The main reason why getting ganked is so annoying (and thus, players are hesitant to remove the defense against it) is, in my mind, because it simply takes so long to kill opponents. We have a game in which health totals are high enough to necessitate 4-6 or more meaningful openings in order to get a kill. So, prior to the revenge rework getting ganked used to sometimes feels like getting bopped around for what felt like an eternity with no control over your character until you finally die. Honestly, I would prefer to just see lower health totals and lower respawn times in dominion. Make fights faster and more frequent, with fewer mixups needed to kill. The lower health totals would mean that you need more SUCCESSFUL defensive actions (parries, dodges etc.) to attain revenge mode. Also, getting hit by bashes should not give you revenge, but dodging them should give a significant amount of revenge. Under no circumstances should a mechanic exist to reward failure. I recognize that dodging bashes in a gank scenario is difficult, but you are outnumbered. Your survival should be difficult.