Eh, points are just a way to balance a game easily so you don't have to juggle; CWC has enough scenarios and set up changes to make it work ok, and you can build your list according to a "proper" TOE within that.
No balancing system or rather no scenario creation and set up system is ever perfect but there's nothing inherently wrong with a points based system, or a "juggle it and hope" system, or even a semi-random table driven "never quite sure what you expect" system or...
Might be worse, it could be Age of Sigmar "bring whatever you fancy"

Which might appeal, if you have a reasonable opponent, in depth knowledge of troops and numbers and the time to set up a "proper" balanced scenario where either side can "win"
