Does MMR Tanking even work?

So I spent the better part of the last two days trying to lower my MMR by sending my characters into fights to lose on purpose. It seemed to work at first - as my score dropped, I ended up seeing matches full of weaker players - players I could easily demolish.

Then I look again and I see a full 100+ team.

…Huh.

Does this even do anything or am I just wasting my time?

Wasting your time. Tanking doesn’t work to the same effect anymore.

Well, glad I learned now, rather than, say, a few hours before the end of the event. Thanks.