This has been suggested multiple times by the community. Honestly, I'd like anything that prevents everyone from getting random placements (such as #24) for scoring the same (full solo). The rewards could use increased guild currency since its a very old raid (only 4 raid exclusive gear and 400 guild tokens per 5 shards at the time).
I wouldn't get my hopes up for any updates on the Rancor Raid. Its an entry level raid for freshman guilds so its going to stay as it is