Is it that, or does vote analysis in its present form just not work anymore?
Even AOK, at the height of his powers, never used vote analysis alone to find wolves. It was just one tool in the toolbox that helped to make the case against people. Eventually he shared his "secrets" with everyone else and that is where the game changed, IMO. Now everyone not only knew how to analyze votes, but they knew how to defeat it as well; so we had more people analyzing but at the same time we had more people who knew how to game the system. This made it a wash, at best for the village as they became more and more dependant on vote analysis while forgetting about every other way to find wolves.
Now we have the worst of all worlds. Everyone insists that there be 2-3 people "run up" every day, no bandwagons and no throw away votes guarantee this. Then at some point late in the day someone has to take a stand and make a decision, and that results in one person being lynched by a specific person, or two, and the other candidates being saved by the same people. Now if the person that is lynched happens to be bad, we celebrate and the decision-maker is heralded as a hero. If the victim is good, then people automatically assume that at least one of the other candidates is bad and try to figure out who "saved" who.
This then becomes a self-feeding system. In the early days no one knows anything, but the same rules apply, close vote no TIEs. Since the majority of the players are good the odds are that most of the leading vote getters will be good, but this doesn't matter because we don't know anything else so we focus on the same people over and over. Even if we get unlucky and find a wolf in this mess every wolf pack out there knows how to game the system and we should never find any packmates in incriminating positions.
I haven't played much recently, so maybe vote analysis does still work and I am just seeing a very bad run this game.
I have been away from Werewolf for many months (and even before that I only played once in about 9 months), and reading this explanation is quite enlightening. Of course, that is just the way everything has shaken out in how we play this game, but your analysis of that system seems spot on.