Isn't the most fair system one that predicts the best that it can? Ranking everyone the same to start the season has a much greater error than even the most rudimentary model based solely off the last season record. I'm not sure how this achieves a greater standard of fairness.
It may be true the model gives too much weight for too long to out-of-season results, but it may also be that everyone here is upset about this only because our school is ranked lower than we feel it should be.