Tried it out in vassal in a 1500 game against eldar with 4 farseers, hell lot of bikers, 3-4 seers, 1 wave serpent, WK and s6 barrage artillery.
My list was:
Council:
Ghaz
2 Megabosses
Grotsnik
Megamek with MFF
3 barebones Nobz with a banner
Painboss
9 'ard boyz with a
pk-
bp Nob
Grots with a squighound runtherd
9 tankbustas
5 lobbas with ammo runts
2 gun wagons with
tl shootas and a ram
Imperial bunker with an escape hatch.
Hammer and Anvil. We rolled off and got eternal war - kill points. Night fight active. And i went first.
Ghaz with 3 warlord traits got the worst half of the warlord table. Even with rerolls from battleforged (could i do it?), he still got: +1
BS, outflank and master-crafted. Eldar got -1 for my reserves.
Had a bunker with lobbas on top in the middle of my deployment zone as close to the frontline as possible - placed the escape hatch right in the middle of the map. 'ard boy in a gun wagon went on the left flank and tankbustas with painboss on the right flank. Grots got reserved.
Eldar deployed artillery and WK somewhere in the middle inside a ruin, one large squad of bikers with 2 farseers and seers on one flank - all spread out 2' and the identical squad on the other flank. Wave serpent was hiding behind a ruin. 3 bikers go in reserves.
1-
st Ork turn.
The council disembarked in the middle of the map and spread in a line to deny larger area. Tankbusta wagon hid behind blos and boy'z wagon went 12' in the MFF radius.
Combined shooting of lobbas, snapshooting
tl-bigshoota from a wagon and ghaz's mighty bs3 bigshoota killed 4 bikers on the right(for me) flank - exactly enough to force morale check which the eldar promptly fails and flees off the board.
1-
st Eldar turn.
He moves bikes to shoot council but hangs at the edge of 18". Serpent and knight jump around backfield to get a couple of good shots on the council.
He doesn't manage to cast anything significant - just shrowded. I also denied something with a lucky 6.
He shoots and manages a few wounds here and there - MFF helps a lot against ap1-2 stuff. s10 ap1 is still pretty scary cause it can insta-gib anything other than Ghaz due to
EW but he positioned the way Ghaz couldn't tank s10 shots - darn eldar speed. Artillery doesn't do anything even hitting a barebones nob thanks to 4++ followed by 5+++ - and the council being spread out.
In the assault phase bikes move away a bit.
2-d Ork turn.
I decide to go va-bank and call WAAAAAAAAAAAAGH! as i realise he can kite me all day and i won't be able to win on points even with a lucky 1-
st turn kill.
Grots fail to arrive - good for them.
Bikes are somewhere within 22". I move the 'ard boy'z wagon towards them and disembark. Tank bustas are on the other flank going within 24" of eldar artillery yet hugging cover themselves.
Lobbas manage to kill one bike somewhere close to the back of the squad, tankbustas kill one artillery gun. 'ard boyz run 3" finishing the move within 7-8" of bikes and Council runs 1" failing to get within bike's charge range by like 1-2". That's why you hope to get Crusader - best Ghaz warlord trait
imo.
Boyz attempt to charge bikers, loose 2 on overwatch and than fall flat on their faces having rolled 1-2. Rerolling 1 gives another 1. So, they stand in the open.
2-d Eldar turn.
Bikes arrive and go directly towards 'ard boyz but the shuricannon one runs into a tree akin to a stormtrooper and dies.
He moves bikes away from Council but close enough to unleash shuriken storm upon 'ard boyz. WK and serpent shuffle around the backlines.
WK kills a warboss and a nob,
WS shooting takes 2 wounds off another Warboss and something else hurts Ghaz so he's down to 3 wounds. Artillery switches to lobbas, kills a few grots they fail pinning. Bikes shoot at 'ard boyz and 'eavy armor saves like 6 wounds out of 9 with 5+ cover from woods helping against rends. In the end, i loose just 3 boyz. However, they fail morale and take the whole 6 hits on the mob rule killing off another 3 boyz

The squad's down to nob and 2 boyz.
Eldar performs an enormous 11" jetbike move and comes closer to my backlines avoiding Council but getting close to remaining 'ard boyz squad. He's not afraid of them anymore.
3-d Ork turn.
Grots still chill out in reserves.
The situation is grim for orkses, however i still have a few options. I can either embark on a wagon with a council and try to catch something, however, i won't be able to embark the council and move towards bikes emidiately as the council's still spread out too much to embark in one go and move. The second option is to use a wagon to help out the boyz. As WAAAGH's wasted - my only hope now is to somehow tie the bikes till the council gets close enough to charge them and earn enough
VP from farseers and the squad to pull a win. So, i decide to go for it. I believe in my 'ard boyz

So, the boyz move towards the edge of the bike's squad and the gun wagon moves towards them too. Council slogs in the same direction too. Tankbustas proceed to hug cover remaining within 24" of his guns.
Bustas kill off another gun. 'ard boyz' empty gun wagon flat-outs to block
los to boyz to save them from half the overwatch and disallow too many bikes from piling in.
Nob and 2 boyz charge the bike squad, take no overwatch damage and engage in a fight! However, i can't challenge cause farseers are out of 2" fighting radius by a tiny bit. Bikes + farseers pile in and manage to kill 2 boyz before striking. However, nob strikes back and kills 3 bikers. Eldar pass
ld.
3-d Eldar turn.
Serpent and WK move towards the council. Dire avengers disembark.
The last gun kills an artillery grot and pins lobbas once again. WK,
WS, 2 bikes and avengers shoot the council but just manage a couple of wounds. WK got it's s10 shot through but this time Ghaz tanked it and just got 1 wound off.
Nob challenges and Eldar refuses, so 1 farseer doesn't strike. Eldar manage to put 4 wounds on a Nob but 'eavy armor saves 3 out of 4 and he's still in play! He strikes and pulls 2 wounds. The farseer feels heroic and advances to tank this
pk attacks with his 4++, saves one wound but gets sploshed by the second one. Eldar pass
ld and we're tied in combat.
By this time, eldar concedes.
I got really lucky. Both with the 1-
st turn kill and a couple 'ard boyz holding off the whole biker squad. The eldar's psy phase also felt a bit underwhelming compared to what i usually face - rerolls everywhere. He didn't get very lucky with psy powers and got his invisibility-seer routed in the first turn or ork shooting.
Council still felt extremely slow. However, biker eldar are one of the worst matchups for my list, so, i think it evens out a bit. And 1500 is too few points for this formation - that's for sure. However, they're pretty tanky with lots of 2+ 4++ 5+++ wounds and look outs on nobz. I kept nobz min to get majority t5, however, i feel that a bunch of extra nobz could be very helpful for look outs.
I do think that Escape hatch bunker + Council or Meganob deathstar might be a valid tactix in higher pt games if you have more fast threats. And you could also pick up the council squad with a drive-by transport. If you get WAAAGH-mongerer, they have more chances for a turn 2 charge.