The beginning of the conclusion of the original study [1] is worth repeating: No one should try to reform or rehabilitate the ranking. It is irredeemable. In Colin Diver’s memorable formulation, “Trying to rank institutions of higher education is a little like trying to rank religions or philosophies. The entire enterprise is flawed, not only in detail but also in conception.” Students are poorly served by rankings.…
Universities are mostly unimportant in terms of what they offer: class sizes, education, curriculum, etc... All mostly bs that doesn't matter.
The real role of universities is to gather together smart people as they develop. This requires mostly a sort of self-selection of applicants, who need to agree independently to go to the same university. Hence rankings, prestige, and all that nonsense.