These two systems are fundamentally opposed. Ranked is supposed to match you based on your competitive division score. As you win or lose, your division score is adjusted and you will equalize with other players of similar skill naturally. SBMM matches players off of a hidden skill rank that Blungie doesn't display and doesn't have anything to do with your competitive division. This means that you could be at gold, but have a lower SBMM rank than a silver player. If that didn't warp the "competitive" aspect enough, your division score gains and losses are modified by the hidden SBMM number.
Bingie has yet to make even a token effort to justify this decision. It's not like this is something they can pretend to have been ignorant of. Since this "rework" was announced players have been asking why, and Buingino has said [u]nothing.[/u] It's a slap in the face of the PVP community, and another sordid entry in Bundie's tragic fall from grace.
Congrats on continuing to bury the bar further underground Bungie.
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They are in processing. But it will take time.