Yup. Agreed. Coates is following the grand tradition of several of the Cap writers before him. Englehart used the original Secret Empire to address Watergate and Nixon's betrayal. DeMatteis used Arnie Roth vs. Zemo to address homophobia at the peak of the AIDS crises (as the story came out in 1982), Gruenwald used John Walker to address the dangers of extreme nationalism, particularly during the Reagan era, and now Coates is using the Power Elite (and the Watchdogs, AIM and, apparently, Cheer Chadwick) to confront foreign collusion/immigrant internment/alt-right extremism. The Captain America comic, at its best, has Cap confronting America's issues.
On Twitter I've seen some fans complain that they thought Coates wrote Cap as being too harsh in his expressed contempt of the Watchdogs and their ideology. But, this is the same Steve Rogers who (rightfully) called homophobes out as being pariahs of society in 1982, the same Cap who became so upset at an acting president's actions it triggered a goth phase (Nomad), so to me Coates internal monologue for Steve was pretty dead on and it showed Coates did his research. Steve's not exactly a wilting flower, he lets his thoughts be known, and sometimes his thoughts are wonderfully and delightfully scathing. I legit cheered out loud reading Cap #14.