No it's not. If you fail to see it then we have nothing to discuss further.
You accuse me of overblowing the snowballing problem in WB yet you try to downplay it yourself. It's not just 1 extra hit to die, it can be more, on top of that they get access to better weapons, cavalry gets longer lances and beefier horses, it's not just "1 more hit to die", not even close.
Meanwhile in BL you only have to play 1 round with 1 less life than your opponent with the very same class and then you're going to be on equal footing the next round, or you might even gain an advantage if you manage to make the enemy spend all his gold. Or you can not do that at all and play at a slight disadvantage with 1 same class and 1-2 lesser classes, but at least your gap won't increase thanks to the 390 gold cap, so you'll still have good chances.
In WB the gap just gets wider with every round lost and every teammate killed.