Does relic prestige affect BGs matchmaking?

Theres never been a clear cut explanation on what really factors into BGs matchmaking and I was hoping for some clarification on this. I heard its based on something called “ELO” and that its + / - 25 of your rating score in BGs. But then I’ve also heard its based on TBHR (total base hero rating) and relic prestige. So i never ranked relics because of this (they scale pretty poorly)
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But is it like that for the Gladiator Circuit as well? Like if the system finds 2 people within the 25 rating of your current BGs score, I assume it has to use some sort of algorithm to know which to match you with
Anyone can match against anyone else (in G.C.), or at Plat and above prior to G.C. at least anyone within similar Plat/etc level.
Thus all the lower accounts who used to get similar matching up until Plat-2, and then suddenly start getting matched against 5x stronger accounts.