Of course there are still ways to have fun in such games, especially by subverting them. For example MtGO has a format called "draft", in which players each open a booster, pick the best card for their deck, and pass the rest to the next player, in a circle. The player who picks the best deck that way will then probably win the draft tournament and get more boosters as reward than he needs to continue playing. If you are good enough, you can endlessly play for free, while the unsuccessful players pay for boosters and entrance fee and go home empty, except for the cards they picked. The way to subvert a draft is to rare pick, that is not taking the cards that win the tournament, but taking the cards that are worth most to other players. As rare cards rarely are the best to build a winning deck, a good player passing you his leftover cards means he probably didn't pick the rare of his pack. Of course rare drafting messes with the draft tournament, as the rare drafter nearly automatically loses, giving a free win to his lucky opponent. But it is a great way to redistribute assets from successful players to unsuccessful ones, in reverse of the normal situation.
By definition half of the players in any game are worse than average (median, to be precise). More modern and more successful online games have managed to keep those less successful players playing, by having a reward structure where there are only winners. You don't actually "lose" a game of World of Tanks, you just "win less". Note that the reward structure is external to the rules of the game, Magic the Gathering Online could just as well have used such a reward structure which doesn't overly punish the losers. As a result the most successful physical card trading game in history managed only a disappointing online success, with just a fraction of the number of players that for example Hearthstone has.
"Seeing people rage when they lose" might be fun for Stabs. But I believe that as a business model it is inherently self-destructive. Successful competitive games make life easy for the losers, because you just can't run a game without them.