I have fought the Wraith around 8 or 9 times so far. My friend and I won consistently except against one particular player who we struggled against in 4 games. I have posted links below for those who are interested. My friend is an exceptional healer who has a lot of experience healing in a wide variety of video games.
Series of 4 Tough Battles. I will not spoil the outcomes but it is not all bitter.
Wraith seems very balanced as it is right now. It just takes time to adjust your hunting style for it. As players become better hunters, Wraith will have to work even harder to stay alive. I do not think it is fair for people still learning a game to judge something too strong.
P.S. I am using an Xbox One and my home network is shared so the quality is only 1400kps. I am not interested in comments about video quality unless the same person sends me money to upgrade my internet infrastructure.
Edit: Video links were not displaying properly. I have added brackets on either side to override the normal forum link functions. Copy and paste the interior. Also, I would be interested in learning how to insert links without have massive blank spaces.
Edit2: Also, we do catch Wraith before Stage 3. You just have to learn a different style of hunting and have an excellent trapper. The wraith can actually dash out of your dome before it deploys with full 3 stamina. Your teammates have to NOT shoot it when it hasn’t noticed you so that you can get close enough to trap it. This is something that would be helpful when hunting all monsters.
Edit3: I went back and observed the decoy in my Hyde match at the dam, and I agree that you cannot burn it down quicker. It does not appear to expire from any reasonable amount of damage. So your medic will have to pick up the healing pace to deal with that damage as well.