From my experience, ELO seems to be completely non existant. The other day ya know I'm rank 36, 3 games in a row I'm getting 3 different teammates that are new players that get their starting units wiped in the first engagement and its clear that no matter what we will lose and I drop 90 places.
Frankly, that might be true.
The better and higher you are, the less idiots you meet up until only every 2nd game you're paired with potato.
I'm also still finding players that are not even level 80 that I just stomp that complain about matchmaking. (Yes I know level doesn't equal skill, just represents new players.
So really, elo sorta works, sorta doesn't. More like just whoever is on searching it seems.