Objectively speaking, Chaos is the faction with the furtherest reach. Dark Eldar are largely limited to a small part of one of the layers of the Warp, everyone else is largely limited to a continuous patch of realspace. Chaos controls an entire layer of Warp and maintains military supremacy over an another one; it has a huge permanent outpost in realspace in the Eye of Terror, it controls tens of thousands of planets of various species randomly scattered across the Galaxy, and maintains cults and infiltrators and contacts in many more. Every Psyker without sufficent discipline risks becoming it's agent, and every religion risks being subtly subverted by it. Through dreams, it influences mankind.
It's resources are vast. The Four, beings of ancient and astronomical in it's scale power, get stronger from from every living person with at least some psychic sensetivity who experiences rather typical emotions of frustration, resignation, hope, and joy. Much more of such power is generated by intentional worshippers. Daemons of Chaos, though not nearly as numerous as Orks or Tyranids, possess much more magical power per capita, can naturally use FTL travel, are tireless, have no biological needs, eventually respawn upon death unless their God wills otherwise, and, with their mere presence, spread the chaotic Taint that is usually really hard to get rid of for good. Of the army that conquered the Galaxy for mankind, Chaos now commands an entire half, including half of the legions of Space Marines, traitor fleets of the Navy, traitor batallions of Imperial Army and traitor subdivisions of Adeptus Mechanicus. The forces of Chaos restructure the very fabric of reality on Daemon Worlds to allow them to cheat at industry, and have free access to things others would fear to touch with a ten foot pole. Chaos Gods command interstellar epidemics, stir rivalries between nations, motivate their recruits with more joy anyone else can ever achieve, or warp fate itself.
Chaos does bring freedom and truth to the worlds it corrupts. There's no arbitrary hierarchy, no withering taxation, no censorship and no indoctrination in a usual sense.
But it is, indeed, Chaos. You aren't obliged to worship the Four, but you are not entitled to protection from being sacrificed to them. You aren't a slave of an institution, but anyone may enslave anyone by their personal power as they wish. You can, relatively easily, get immortality from Nurgle, magical and/or social power from Tzeentch, revenge from Khorne, and pleasure from Slaanesh. But anyone else can too, and you can become Nurgle's involontuary carrier, a pawn of a Tzeentchian, a Slaaneshi's plaything, or just another skull in Khorne's ever-growing pile.
It's not ALL total misery-mongering and doom, as you might think from looking at their army. Armies are naturally more horrifying than the civillians behind them. There are real, and pretty big, perks.
It's still pretty fucked up though.