Do ranks actually matter?

No, ranks don’t matter for fraternities at least expect if they are bottom. Girls especially sorority will not attend any of the bottom 5 fraternities parties or events so stay clear of like tke, chi phi, phi psi, pi lam, and it’s a toss up for the last one but sigma chi bc they have no house

As a guy in a "top tier" frat, in my experience the higher up you go there is less difference. There is a big difference between a bottom and a mid but less between a mid and a top however the difference is still there. Really all the rankings mean is how popular the frat is and how many girls come to events. Pike, theta chi, sae, sig ep, ks, and ka all get lots of girls (pike and ox maybe a bit more so bc they are seen as "top") but as long as youre not in one of the bottom houses like Maddie said, it really doesn't make that huge of a difference.