Do ratings matter?
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Of course ratings matter. IQ can be derived from a person’s rating.
No sorry, that's not true. IQ is to multi-faceted to be put in this sorta narrow logistic. There are tons of 150 IQ , who simply can't play chess well.
And plenty of grandmasters who are duller than a rusted knife, but we have been told that they are outliers.
See https://www.chess.com/forum/view/general/relationship-bewteen-chess-rating-and-iq?page=94#last_comment