Well, this was an eye opener and no mistake.
It basically says that, if the matchmaking system is working perfectly, when you're playing at the peak of your ability you should have a 50% win/loss ratio. If your ratio is above that, you're probably playing against weaker opponents.
And there we go. If you ever looked enviously at players with a win/loss ratio above 0.5 console yourself with the fact that the matchmaking system is giving them easy games.
What it also means is that your ratio doesn't measure how good you are. It measures how good you are against people that have the same skill level as you. For me, this is great news because I'll I want from PvP is fun and not to be dead weight on my team. Now I have a good idea when I am achieving that.
N.B. this whole theory goes to hell in team games