To some degree, yes. The problem is that SE decided to protect everyone from deranking when CC was first released. No matter how many times you lost, you stayed the same rank. Furthermkre, you even ranked up if you accidentally got a lucky winstreak bonus even if you had a 2% win rate.
What this essentially did was allow players with 2% win rates to eventually achieve the highest rank possible (Crystal) through enough effort and win streaks regardless of thier skill. This lead players to believe they truly earned Crystal rank through thier skill.
Eventually this lead to the majority of Crystal ranked players being unskilled, and the experienced veterans could not find matches with other experienced veterans because the rank became meaningless. The skilled players detested this, and the unskilled players did not have fun getting ripped a new one every time they qued up Crystal rank.
Yoshi and team decided to reimplemment deranking. And things were fine for a season... until thise unskilled/casual players who made it to Crystal before, suddenly couldnt get to Crystal anymore. This lead to a lot of frustration and mist of them quitting the mode altogether and now we dont have enough players to que up ranked.
Simultaneously, every experienced player has recieved the stupid adventurer plate by now. And the only new reward is... the same adventurer plate with a bigger number on it. And it looks like ita going to just be the same adventurer kit from now on with increasing numbers. So even the experienced players have no reason to play until season 30, when the adventurer plate number is "XXX"