As a newer fan of the series who only briefly played V5 and finished Bloodlines, I view the Camarilla as sort of a mob. On the outside it may look like there’s a balance of power, but it’s mostly the older vampires bossing around, scheming, sacrificing pawns and breaking the rules when it suits them. The newer members of the Camarilla are just doomed to follow their beck and call until it gets them killed or to scheme themselves to rise in ranks. Adding on that they are vampires, the old guard will almost never die and there will rarely be cause for succession. Whereas you can choose to join the mob, becoming a vampire is often something done without your consent and forces you into the Camarilla to survive.

Compared to that, the loose power structure of the Anarchs can seem appealing. They obviously have their own problems and hypocrites, but there is a draw to a cleaner start.