Pairwise rank constraints involve fewer assumptions that per-item scoring about the underlying nature of the data, thus they are more robust.
When we were exploring the mathematical foundations, we considered ELO scoring against a "Universal Corpus" based on the natural entropy of human language (Obviously that's intractable, but sometimes this term cancels out like in the DPO proof).
But eventually we figured out a method using cross-query comparisons to assign an "ELO bias" to all document ELOs within a given query's candidate list. This normalizes it correctly such that when a candidate list is all bad, the ELOs shift low. And when the candidate list is all good, the ELOs shift high. Even when the relative ELOs are all the same.