Then imagine a large stack (or even a very large one due to necromancy and the converter) of lords under the Shield spell with 2000 HP, which absorbs half the damage. And the lords not only take damage but also, for each Drain cast, lose 90 additional points of rage. Or a mage can cast simple mines under the Sign spell, and 16 of them will appear on the field at once. A constantly moving orc will take a beating, and that's about 250 damage from each mine. In total, 4000 potential damage per cast.
Moreover, magical races get 2 spells, while the orc won't get 2 useless ones. But the problems with suppressing spells don't end there, because, by maxing out Darkness and Summoning, the Necromancer and Warlock can easily acquire perks like Haste and Stone Skin. Mass Haste (1.3x) and Slow (0.7x at maximum suppression) mean the orc moves twice as rarely. And even Dispel remains a fairly effective spell.
So, let's go in order: lords with a shield of 2000 HP are certainly a serious opponent, but I don't see anything catastrophic - with such a large amount of Horde Rage, the shield will be quickly broken (by the way, what about phoenixes? will one of them survive such an attack?), and vampires will, of course, be targeted first (preferably before the hero's turn). Next, mines dealing 250-70% = 75 damage is not serious; it's a wasted hero turn.
Now, imagine for a second what the opponent can do with Darkness in just a couple of turns, even with it fully suppressed!!!!!!!!
You are right about the two spells (especially the combination of Light/Darkness for the knight is dangerous), but, as they say, we choose the lesser of two evils, i.e., we pump up Anti-Darkness;) - usually, that's enough.