True, but it's just a largely meaningless rank at the end of the day.
Not necessarily. It does count for a lot when it comes to transacting on here. No newbie will be taken seriously.
That's because newbies are likely to be sock or scam accounts.
A legendary or hero member will always be taken more seriously.
I don't trade with anybody on here any way but I don't think I would with anybody below hero member status without positive trade feedback.