The reality is that good security doesn't scale. If an entity starts specifying a reasonable list of certificates it has directly verified are the trustworthy well-known entities people expect, you have a good trust system. Once you start throwing in an automatically-verifiable system where everyone should be able to participate, phishing is going to happen.
As much as Let's Encrypt helped encrypt the web for free, it also guaranteed that convincingly phishing the web is also free. Making a legal entity and going through the EV process is a level of frustration that isn't easy to handle repeatedly, and very few checks would be needed to be added to EV to make it near impossible for an entity to rebrand and reappear after being banned for misusing it's certificate. Notice that stripe.ian.sh doesn't actually have an EV cert anymore: A system working as designed.
The only way we are going to ever ensure your bank site can't be imitated by some kid in their garage is going to be to create a system that a kid in their garage can't participate in. And the closest thing to that is EV.