One of the interesting things about Michelin is that simply being in the Guide is a recommendation. They ignore the vast majority of restaurants. Hence they can keep the rating system nice and simple. It's a good methodology imo, though I don't suppose it is the absolute best from a PR point of view in this day and age. Witness the plethora of online arguments about a point or two on 100 point scales such as Robert Parker's in win, or top 100 rankings in golf...
Well that is by far the less controversial way to do it, as people just assume you didn't see a certain course, instead of having to explain what you didn't like about it. [I might have done the same for The Confidential Guide the first time through, but after that, it was impossible to retrace my steps!]
The Michelin approach also allows you to include somewhat lesser courses in the parts of the world that are less well endowed with great golf, without making too strong of a statement in their favor . . . you're just saying these are the best options that exist, even if they are really only a 5 on my scale.
In the end, even the Michelin guide has led to restaurants around the world aiming for a certain aesthetic and type of menu, because that's what wins Michelin stars, because in the end, there is too much ego and reputation and money at stake in getting those stars. There is not enough room for courses to aim at different goals or live under different financial standards, and be recognized as being good for what they are. For that, you need to read a review, not a ranking.