In chess on the other hand, a 2200 elo player would almost never lose to a 1700. They'd never even play vs each other in tournament play. And no, by almost never I don't mean they'd win 95%, I mean they'd likely win 99.95%.
Hm, well in case you don't know elo is also very inaccurate when predicting win rates in chess. Your statement is very inaccurate in this regard, thru I don't have the actual % here. Also 1700 frequently play 2200 in tournaments. Typical example here is kids, but older 1700 players can do this as well.
This article caused some interest when it was written.
https://en.chessbase.com/post/the-elo-rating-system-correcting-the-expectancy-tables [the graph is win% predicted by elo and win% actual. Actual is lower.]
It is a bit dated at this point, however I am not aware of a more recent in-depth look into chess ratings. Also, the above link doesn't contain the entire article :/ Jeff Sonas has also done stuff like this :
http://blog.kaggle.com/2011/04/24/the-deloittefide-chess-competition-play-by-play/{a competition to make the best elo system}
Basically, if you are interested in chess ratings there is a fair amount of articles on the subject out there. The main arguments in favor of ELO, is that it is easy and practical to work with.
Edited 1/24/2019 05:31:41