This is kind of disappointing to me. A lot of the fun derived from the online multiplayer is being able to show off the spoils of your victory, and to have a visual rank to work towards. I don't know why in the hell they would decide to remove such a prominent aspect of the franchise completely. Just seems kind of like a slap in the face to all the people who take enjoyment in the competitive side of the community.
How old is this video? Hopefully they will soon realize that taking out visual ranking completely is a bad idea, and maybe patch it in or something.