I only see a ranking system as an RP standpoint.
Say, person A is the leader.
Person B is like, second in command.
Person C is a basic soldier.
Person A can command over person B and order him or her around(to some extent so it's still fun for both players to RP in such a way), and Person B can command person C and order him or her around(to some extent so it's still fun for both players to RP in such a way). Personally I don't see how ranking systems can work in Discovery unless there's roleplay involved and the people in question act properly. Say, person C not being able to talk smack to person A due to his paycheck being cut or something. I dunno'. But hey, roleplay is roleplay. Your characters are supposed to act like the player behind them wants them to.
Doesn't really work for pirates, imo. There's just that one guy that's the boss of all bosses and the others are just 'hey, after this bottle of Whiskey we're heading out to kill some guys'.
All in all, as long as there's fun involved a Ranking system is just there to be there.
lol
Would be fun if there would be actual paychecks though. Say, from the bank of the specific faction.
Person A giving credits per month to Person B and C based on what they did in the current month, how they performed and their rank.
The economy in Disco is broken anyway, so it's not like there'd be a lack of credits to give. 8|