We used to have power rankings on this site before. Might be brought next year so users can do their own and update each week. (It's an application itself much like tipping/virtual bookie on here and not forum based).
Many many moons ago I created a formula based spreadsheet which calculated the power rankings based off recent form and the quality of opposition teams were beating. Soward got a lot of heat for his power rankings, but that's primarily because the Australasian market doesn't understand how power rankings work. Fans would get upset that their teams early on in season were ranked lower than the ladder etc. His power rankings seemed to take into account the quality of the opposition that teams were beating - which is absolutely how power rankings work.
Fans for whatever reason can make criticism of their team themselves, but cant handle it when an outsider does the same.