ranking of cryptocurrencies becomes outdated in my oppinion, its quite easy to create a currency which has a higher marketcap than bitcoin, but a corrupt sect arround the indexes prevents listening of those.
with the end of national banking cartels a time called "coins of style" will come, in this it will be more about a cryptocurrency and about its management and much less about a pretended selffullfilling ranking.
this could then also help prevent to get the market divided into new marketmovements. that want to free themselves from attention monopolies of established top 10 coins.
etc.
regards
I think your are totally spot on with this observation because it just continues to create some form of competition when there is really no need for any. However, I think the ranking is from the people who attach importance to it because there is no way there won't be some listing on coinmarket cap, blockchain.com market, exchange sites listings and the likes and one must surely come before the other and the generally accepted parameter to achieve that cannot be alphabetical order, neither can it be time of existence but rather the market capitalization. What we should promote is that decisions about which coin is better or not, should not be based on just listings.