If your HOA was "mandatory" it would have been disclosed when you bought the house. Since you entered into a covenant, you can't remove it unilaterally.
But is IS an association, run by a board and required to report to homeowners and hold meetings and elections. You have a choice. Fume about it or get involved and change it. While a management company may be hired by the association to conduct the day to day affairs of the HOA, the board is responsible for hiring them and setting the policies and rules by which the HOA is governed.
Talk to your neighbors about your concerns. If you share common complaints or points of dissatisfaction, get together and attend the next association meeting and make yourself heard. You and your neighbors are the Homeowners in the Association. Run for a seat on the board, or support someone who will work to get the changes made.
HOAs can add a lot to a property, from setting standards that keep property values high to maintaining amenities and common areas that made the home a desirable location for you when you bought it. But things can change, and homeowners need to stay involved to keep their HOA a positive influence for the community.