I'm confused - does the phantom commissioner only review trades that have been vetoed by a majority of owners? If so, then what are you complaining about? How is it any different than any other league with vetoes, except that there's a chance that a wrongly vetoed deal will be overturned? At the very least, its a little better.
I assume this is a free public league? If so, I don't have much sympathy. If its not, I have even less since that means you're in a league with friends where you are relying on a phantom commissioner instead of one of you doing the job.
"The government cannot give to anyone anything that it does not first take from someone else"