This really doesn't seem to solve the main problem that most current ranking systems have - it doesn't compensate for recency. Newer critically-acclaimed movies like The Dark Knight rank higher than much older but just as well-liked movies like Citizen Kane.
Is that really a bug? Kane, while a technical masterpiece for it's time - shouldn't be up on some pedestal. As art it is, while powerful, also not flawless. If you had to pin me down to a black and white era drama, I much prefer, say, 12 Angry Men to Kane as _art_.
But as you can see from dundun[1]'s post, the rank is very biased towards the more recent times; according to it, 43% of the best 5000 movies were made between 2001 and now.
