No more skill based matchmaking in Online Versus?

I'm not sure why this is but the matchmaking in Online Versus appears to be completely random now. I'm ranked as a top 50 player and even if I match an opponent within a few seconds they could be a very low ranked player. In previous years it was always the case that when you matched quickly with an opponent that you would have a similar competitive rating. As a whole it's a little bit frustrating because I rarely have any competitive games and I'm sure it's not fun for newer and less experienced players either. 

I know there was an issue early on with people being unable to find matches so maybe this was just a short term solution to the problem but it really needs to be addressed quickly as it's making the game extremely boring.