That’s true. But that’s not what the rankings are there for. The rankings do not just predict accurately that the higher rank would win. It’s based on the performance of a team in the last 3ish years. This performance is then ranked. It’s the best tool we have in Test Cricket to see who is the best right now (no test world cup). The best does not mean somebody who CANNOT BE beaten. It’s just somebody who has been better than the rest for the last 3ish years. In that perspective the rankings are important. It’s the best reflection of whos better !