Actually there is no need for new ranks tbh. The current system works fine. People that post quality content rank up and shitposters won't make it.
Of course we don't need a new rank, and it's a given that idiot shitposters will never even get to Hero member status, but we've had this discussion a few times before and there are a sizeable number of people who would support adding a rank above Legendary.
I'm one of those, even though if nothing ever changed with the ranking system I'd be just fine with that. But just like any other proposal, it doesn't matter what my opinion is--it matters what Theymos thinks of it, and last I heard he wasn't planning on adding any new ranks.
The admins on this forum may be slow to implement some new ideas and suggestions on this forum, but if it shows that there is interest and support from the forum community, they will eventually accept the suggestions.
I guess that's true for some ideas, but not for all of them, even ones that had a lot of community support (like having a mobile-friendly version of the site). I'm also not sure to what extent the moderators are involved in the decision making process with respect to community proposals. I get the sense that it's kind of a one-man show up on the mountain where Theymos lives.