This theory (or fact as I will soon prove) would mean that in Myth 1 and 2 you are infact playing for the evil side, where as in most games you play for the good side. Bungie are a company that has always strived to do something different when making games. Playing from an evil perspective would be something different to do, and Bungie would seek out a way of doing this, and covering it up at the same time.
Soulblighter, who maracliously reappeared sixty years after the orginal Myth, was trying to revert the balance of power in the name of Balor. There is no doubt that in the original Myth Soulblighter was thouroughly evil. He, like the corpses, was all Balor had to make use of. However after sixty years Soulblighter had had a moment of 'Self Discovery' (hey its not that unusual we see it in films and storyies all the time) in untamed lands. What caused this was Balor spirit coming to him in his sleep, on a more irrelevant note he came to Alric and told him his time was up. Soulblighter realised that Alric was the evil one, and Balor was trying to do good. Notice that in Myth 2 we see humans on soulblighters side. Balor told Soulblighter that with human control the troops of Alric may question Alrics morales, However there brainwashing was far too extreme, and the saw the rebel humans as outlaws.
To sum up, Alric was the person in control, during a dark age, therefor he must be a dark controller. Balor is seen in Myth 3 as a soldier of the light. One thousand years later he has reappeared to fight against the evil Alric, with what ever forces he can make use of, as these are corpses he appears from the dark side.
Hopefully these arguments have convinced you that Alric is infact the leveler, not Balor, and Balor really is, the great.