As you said it your late game wasnt complete while dragons was and still i imagine it was pretty close fight if you had divine shields they stand no chance only with ghoul. As you said final forms of compositions are kinda rare ok. But that applies for every comp if you take dragons you need 2 kalecgoses to be able to keep up with scaling and then nadina so total of 3 specific six drops and then you can get wreck by murlocs who get bran + 1 megasaur and little luck. And every other comp is the same.
Full Dragons vs Full Murlocs, Dragons still win as long as they find Ghoul. It pops the bubbles on Murlocs, while Dragons gain theirs afterwards. So I still consider it a direct counter, but as I mentioned - Dragons as a whole are bad, so it's probably not the best choice.