During the beta the ranked system in Valorant didn't leave the best impressions for players, it faced a lot of criticism by popular streamers like Shroud, people felt like the grind is not worth it due to not having an obvious leaderboard to boost one's ego after climbing so high in the ranks.
Even us as boosters faced these issues, our job is valorant boosting, and when boosting people's ranks, they didn't feel satisfied because there were no progress tracked, or a big promotion screen like the one you get in League Of Legends.
Thankfully, Riot listened to the community and started working on a better ranked system to hit the live servers in patch 1.02 in Valorant. So these are the areas Riot made changes in.
Placements & Premade system
They have made the placements matches more forgiving in terms of skill difference, so if you are a good player that has good K/Ds most of the time, you will still be able to play with your less skilled friends, but the good thing is that they are balancing the matchmaking around it, so if you are a good player, playing with a bad player, you will also get placed against a good player & a bad player, so it evens out.
They have also made changes to matchmaking specially in the higher ranks; Immortal, Radiant (Previously Valorant rank), to make it more fair for the players, and they are trying to combat the 5 man stacks which gives a huge advantage.
Rank & Stats Tracking
One of the issues that people complained about in the beta in Valorant, is lack of tracking to your stats and progress. It didn't feel satisfying to get a new rank since your friends didn't know about it, your friends didn't know how big your win ratio is, how many headshots you get per game, etc.
They are working on implementing a lot of stats tracking so you feel satisfied with improving your gameplay and for grinding in Valorant.
Riot games have been infamous for their arrogance and not hearing their community, however, that seems to be changing with Valorant. They really want to make this project succeed because it deserves to. Implementing those changes early on to the ranked system will definitely help the players and will make sure the ranked is a more enjoyable environment for everyone playing the game.