[kelnos]

Even if you don't go to the absurd extreme you pushed it to, it still doesn't work. Like, say you rank everyone from 1st to 50th, and then break everyone into five divisions (1st-10th, 11th-20th, and so on).

Then you end up with perverse incentives. The #1 person in the 2nd division doesn't really want to work harder to move up to the 1st division, because they're likely to never get beyond 10th or 9th or so. And the 10th place holder in the 1st division might find it more prestigious to slow down a little to try to take the #1 spot of the 2nd division.