Why does ranked feel like an over glorified normals?

Cause it's the same game mode, ranked being just for people who like to know how they rank up against their peers.

I thought it's the other way around.

Because it is.

thats just silver 1 and below. and maybe low gold. after that things get competitive.

Because you're Bronze. Even your normals have higher mmr than your ranked.

Well it is the stakes only matter if you decide they do It's up to you to care what your elo is