I agree.
But what TrueSkill does is represent your skill as a curve (it never pretends to know your exact rank). It just assumes your rank is somewhere on that curve (most likely around the mean).
So you can match around the overlapping of the curves.
Someone who is Platinum 5 with a very narrow curve - the system knows they are around Platinum 5 and can try and match you with other Platinum 5’s. But someone who has a broad curve, from Plat 2 to Diamond 2, could very well be a Platinum 5 - so the system happily matches them while it gains more confidence in the rank.
The problems is that the second player will have a low CSR (which can upset people off the bat), and while statistically unlikely - they could be closer to Gold 6 or Diamond 2 than the system wants, and some uneven ranking comes into the match.
This is part of the reason why players in placing are “unranked”.
But the upside is that players can be quickly and efficiently matched. Much faster than a simple win/loss system (which could take 100’s of games to sort players).
But later in the season, when everyone has a mature rank, match making should be a lot more consistent. But that is also the time that people start complaining that they aren’t ranking up!
After placement some players will still have quite wide curves… so their CSR may not represent their true rank. Although this should really only affect new players as experienced players go into placement with their MMR and if they play consistently should come out with a fairly narrow MMR curve similar to the one they went in with.
And we are also heavily beholden to match-making. You can only match players who are available at the time.
Plus they are still allowing squads to go in with wide ranges of skills. Personally I wish they wouldn’t (my recent placement matches were terrible because of this). That also spreads the ranks across the board.