First off, I'm an old player from way before the rank system even existed. In that era, the gear someone had on was more important than a rank or prestige. Back then, only a guild and a name floated above someone's head. Nowadays, I find my screen so incredibly cluttered due to the prestige badges and the ranks stacked on top of one another.
There are a few ways to address this, from my perspective.
1. Add options to the character menu to hide ones own guild, rank, and prestige badges (which I support)