This system is way too new. I don't think the skill level match making is working very well at the moment. Making up these things but it seems to me like
matchmaking factors
skill rating (minimal)
streak rating (medium)
region (high if not locked)
I have won 18 matches and only seen a notification that I have gone up in skill once. Leading me to think you rank up every 10 wins maybe?
I have lost 41 matches and never seen a notification that my skill ranking has gone down. So either it moves down silently to not hurt our feelings having the game tell us "you're bad"... Or the system only ranks up never down, or you need 50 or 100 losses to go down and 10 to go up. If this is only upward momentum means then that factor will quickly have us getting out skilled since it's much harder (if not impossible) to lower our skill level than to increase it.
I have been matched up against the same opponent who was clearly way higher skill level than myself 4x back to back, his strategy was to board, spawn camp and sail you off the map so that he gets a win, and you get no credit for the match at all. They really need to rethink this. They didn't want people sailing off the map throwing the match because people would just cheese their way to lvls that way. But people are just finding other ways to cheese it instead and considering this method is an actual viable victory strategy I have used once myself... It's really not nice to rob the other player of their progress for match participation if they were actually trying just because a few people might no-life grind their way to lvl 100 throwing matches. This game has always been "play your way" well this PvP mode is very much "Play how we want you to, or get no credit at all" Then they give the opponent the opportunity to rob you of any progress.
Based off other reports of people getting matched up against the same rival crews over and over again and que times being really short at peak play times my time and really long off peak play time it's fair to say this system is locked to your region so using a VPN to play what ever timezone is experiencing peak play time would be one way to deal with que times.
I do have faith they will be tweaking the match making system over time. But we might only see one update to the system every month or so. Heck maybe even per season. This system should in theory be here to stay so big picture it may not be perfect now but they will be adjusting it as time goes on and trying to make it as good as it possibly can considering any exploit people can possibly find they will use, that's sadly just how humans do.