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Localization as a concept is fine. Its a necessary and important part of most translation work. The actual problem is the localizers themselves. Its not the process, its the people. Localization is a job that requires an extensive amount of skill and mastery not just in both languages, but also in creative writing and copywriting. Hiring people with the required skillset comes with great cost. Naturally, the problem is no one is willing to pay these costs for stuff like this or games and other assorted media, with wages being below minimum wage and job requirements being almost non-existent. As a result, the quality of the work is way, way below acceptable, and a lot of the people doing the work are underskilled people from very poor countries like SEA willing to accept the paltry wages (and they aren't even English natives).
But lets be honest, none of you care about any of this shit. You only care about epic western memes or politics in your translations, and I'm talking about both involved parties (pro and anti-localization). The quality of localization in this sort of media will never, ever improve as things stand, and a key factor in why, besides cost, is that no one involved gives a shit, and that includes (You).
Pretty much everything I said also applies to why English dubs of Japanese media is also garbage, by the way.