Perhaps I could make a more eloquent case. The real issue here (aside from a few bugs that gave server admins serious issues) is not one of balance, but a fundamental difference in play style. There are as many styles as there are people, but most of them are concentrated along a spectrum between what I'd call 'explorative' and 'creative'. It might help for me to expound a bit on both styles, and why they're in conflict. Hopefully, this will make it a bit easier to understand why some people are strongly in favor of removal or inclusion of EE.
Explorative players see minecraft as a competitive adventure. The entire point of the game is exploration, the thrill of discovery, and the satisfaction that comes from planning and building greater protections against the enemy elements of both the game and other players. Their hard work in uncovering resources in dangerous places results in a slow build-up of an empire, and their dedication can be (at least in part) measured by the virtual wealth amassed and the more valuable machinery purchased and outfitted.
Explorative players tend to find EE threatening or annoying because it provides a means to largely bypass the long acquisition phase of the game. This devalues their own acquisitions implicitly by removing their time-value. Time is one of the currencies by which people invest their lives, and the purchases carry the weight of attachment. That devaluation causes it to become very annoying and personal, and the people doing the devaluing seem to be gaining at their expense, hence the perception of cheating.
Creative players, on the other hand, see minecraft as a bucket of legos. The entire point of the game is the unleashing the imagination, creating entire worlds one block at a time, and the satisfaction that comes from planning and building grand vistas and intricate models. Their hard work in designing fantastic constructs and finding ingenious new uses for pieces results in a slow build-up of a wonderful mindscape of infinite possibility, and their dedication can be (at least in part) measured by the enjoyment of other players as they examine their creations.
Creative players tend to find EE an essential compromise that allows them to still have some of the more game-like aspects early on while quickly culminating in the gameplay that they find more interesting. Getting resources is a grind that becomes frustrating as it takes away their time while giving back ultimately very little. Taking away EE artificially stunts the scope and size of their creations, and causes resentment toward the people who seem to be championing the limiting of their creative potential, hence the perception of kill-joys.
There is an odd sort of symmetry between these positions, and as mentioned, it's a spectrum. Players often are somewhere inbetween the two positions, feeling more inclined toward one or the other, but uninterested in forsaking either entirely. As a correlary, the suggestion that creative players simply stick to 'creative' mode is usually unhelpful, as it requires abandoning all aspects of minecraft as a game, and (fairly or not) segregates them from most of the player base, as few servers run mixed-mode or pure creative. Social appreciation of creations is a large part of the draw for creative players, and being quarantined into their own group would also be frustrating for them.
I'm not entirely certain what would be a good solution to the conflict, but butting heads over mis-match assumptions and expectations is an exercise in futility. I'm hoping that we could perhaps direct this toward a more meaningful and productive discussion of potential solutions. Perhaps that's too much to expect, but hope springs eternal.