The point of rateds is for a competitive style PvP. That means normalization of gear, and advantages of skill.
The people that want the carrot, don't have the carrot anywhere else, and they don't get enough self gratification from a rating. So these players want tangible rewards to show how "good" they are. The problem is some of those people want gear to separate themselves from others so they don't always have to be on top of their game to beat people because of gear disparity.
I don't care either way, because at the end of the day, everyone that matters will have the same exact gear anyways, and skill will always come out on top.