Why make Toribash like every other mainstream game? If you guys really wanted to play quick games, there are lobbies labeled "Quick," where you will only have to wait a minimum of 2-3 minutes to play. If you dislike waiting this much, then make a lobby with a few friends, you will still gain qi, but you will not get tc per win.
As stated above by everyone, the ranking system is broken. My in-game rank is around 30k, but if you check my usercard on the forums, it is 1k. Matchmaking would not work at all, due to these ranking problems, and honestly the ranking system is not that big of a deal.
A big flaw of matchmaking would be that people would be creating alts to fight lower level players and rank up faster, gaining an advantage. < This currently happens yes, but it is not that big of a deal due to the fact that you can join any lobby as a white belt.
In all honesty, if you can't wait to play a game, then Toribash might not be the game for you. Toribash is all about taking your time and thinking, as well as it is waiting. For the time being, try joining in on the quick servers, or make a server with a few friends. The more fun you have, the less you care about waiting.