The stack ranking system is and was hugely popular with this org. It is popular nowhere else.
MSFT still likes to think of itself as an engineering company, but it is hard to have a tail that big and not sometimes accidentally wag the dog. Stack ranking is probably the best example of how true this is.
EDIT: To add some color to this tale, a Technical Fellow once told me that during the "rank and yank" period (when everyone was ranked and the bottom 10% were effectively fired) he was continually on the verge of quitting. If you are doing something like inventing the CLR, and you hired 5 of your favorite engineers, how are you supposed to react when someone tells you that it is imperative to fire one of them per year? What could the point of that possibly be? This is more or less a common sentiment among extremely senior engineers who ran important orgs at that time.