No, not beacuse the idea is bad (in my opinion, its, very good <3), but because it would need just too many.
1M-500K - that one is fine
500k-100k - first problem, someone 200K is way better than a 500K but really not as good as a 100K, generally
100k-50k - ^
50k-1k - wtf? the gap is just monstruous, I'm like 8k now(I think?)and I am WAYYYYYYY better than a 50K, not even comparable, and a 1K is WAYYYYYY better than me, again, almost not comparable...
1k-1 - like ^ but WAY worse...compare WWW to a #1000 T_T
It would work pretty well with score ranking, but big problem with that ranking, is it's pretty much abandonned now.
I love that kind of ranking so I'll try to make one
1M or worse "unranked"
999,999 - 900,000 : Stone 1
899,999 - 800,000 : Stone 2
799,999 - 700,000 : Stone 3
699,999 - 600,000 : Stone 4
599,999 - 500,000 : Stone 5
499,999 - 400,000 : Bronze 1
399,999 - 300,000 : Bronze 2
299,999 - 200,000 : Bronze 3
199,999 - 150,000 : Bronze 4
149,999 - 100,000 : Bronze 5
99,999 - 90,000 : Silver 1
89,999 - 80,000 : Silver 2
79,999 - 70,000 : Silver 3
69,999 - 60,000 : Silver 4
59,999 - 50,000 : Silver 5
49,999 - 45,000 : Gold 1
44,999 - 40,000 : Gold 2
39,999 - 35,000 : Gold 3
34,999 - 30,000 : Gold 4
29,999 - 25,000 : Gold 5
24,999 - 21,500 : Platinum 1
20,999 - 18,000 : Platinum 2
17,999 - 16,500 : Platinum 3
15,999 - 13,000 : Platinum 4
12,999 - 10,000 : Platinum 5
9,999 - 9,000 : Diamond 1
8,999 - 8,000 : Diamond 2
7,999 - 7,000 : Diamond 3
6,999 - 6,000 : Diamond 4
5,999 - 5,000 : Diamond 5
4,999 - 4,500 : Veteran 1
4,499 - 4,000 : Veteran 2
3,999 - 3,500 : Veteran 3
3,499 - 3,000 : Veteran 4
2,999 - 2,500 : Veteran 5
2,499 - 2,000 : Master 1
1,999 - 1,500 : Master 2
1,499 - 1,000 : Master 3
999 - 500 : Master 4
499 - 11(dat gap) : Master 5
10-2 : Grand Master
1 : Legend
(Was fun to make, now I'm out *walks away*)