Many people are complaining about the unfair match ups in PvP(including me) Here is my suggestion to resolve this issue.
Give players two options when joining a queue for ranked PvP. The first option will be the same as the normal(only) option right now. The game will find you the best match available at the time and if there is nothing available it will widen it's search to find the next fairest match.
The second options will be the fair match option. The game uses the same system to find you a fair match but will not look for players of different rank and will only look for wizards within 5 levels of yours. The game will search as long as it has to to find this match and will not pair you with anyone outside the requirements. It will generally take longer to find a match but some players will prefer the longer wait if it means a fair match rather than being paired quickly but unfairly. If the wait turns out too long for you then you can just leave the queue and rejoin in the first option.