Yeah. To do it point-by-point:
-Huge gold bonus allows for sprawling empires. Gold is much better than health (FoL) or culture (OO); it is an incredibly versatile resource linked directly to your temporal power in terms of upgraded and equipped units and number of cities. Health and culture cannot make this claim.
-Arete bundles three things: a hero, a very powerful early civic, and the Mines of Gauldur, which gives you free Iron (!!!) including some extra that you can trade.
-Bambur is better than Saverous because Bambur can enchant your army without needing to get an Adept even if you start with Enchantment mana. This is a civ-and-resource independent +20% on top of the civ-and-resource independent +2 from Iron.
-Arthendain is attached to a tech you need, Medicine, regardless of what your focus is. This follows RoK's general theme of civ-independent bonuses and advantages. He's also really good and fills a role you normally need to go all the way down the religious line to fill competently.
-The Tablets of Bambur allow you early access to Great Engineers. This is a lot better than Great Bards, on top of the massive gold thing.
-RoK is Good, not Neutral. Being Good is much better than being Neutral or Evil because it protects you from Hell (!!!) and because currently, several important early events favor being Good (free early elven Archer with Dexterous, "let her go" assassination event) and no events favor being Neutral (no early Great Prophet).
-Three or four dwarven mines around every city provide massive resource yields regardless of the terrain, and you can disband the commanders instantly on construction to drop the maintenance needed per mine to 0. This is better than FoL's terraforming autobalance, which makes all your cities decent but none of them incredible.
-Mithril Avatar has no comparison.
The original idea was that there would be early, midgame, and lategame religions but RoK is great at every phase and even has a world-wrecking capstone unit.The early game advantages you get are so overwhelming that you can rocket past everyone else in short order, and when midgame starts rolling around, you launch your iron-armored conquest - easily funded by your bottomless coffers - and then in lategame, yeah, Sphener's scary, but you've got ten more cities than that guy and three quarters of your entire civilization outproduces his capital.