Thank you for your reponse as it is always good to have insight from the other side. I'm sure there are companies where relative points work well, but there different approaches available. Some that actually might be better. Will they work everyone? Hell no, but worth trying before judging.

My experience from many companies and many, many team is that relative story points are useless, confusing and even less accurate. For developers, managers and decision makers. If something doesn't work, let's change it, rather than force it and pretend 'this is how it has to be done'. That's how I ended up with the above approach. Experimenting.

In the end... Relative of absolute, it doesn't matter if team is poorly managed/self-organised.