Does The Cycle: Frontier have skill-based matchmaking (SBMM)?

gamepur.com:

The Cycle: Frontier is an interesting competitive shooter, in that it is unbalanced by design. Players choose what type of gear to drop into the map with, and can potentially end up facing opponents with drastically stronger (or weaker) guns and armor than themselves. Furthermore, solo players, duos, and squads share the same lobbies, which makes the game’s PvP encounters even more skewed and unpredictable. While this is all very much part of The Cycle: Frontier’s core gameplay focus on risk-reward management, many players have voiced the opinion that some type of skill-based matchmaking (SBMM) is necessary to reduce the frequency of frustratingly unwinnable PvP encounters.

Related: Does The Cycle: Frontier have progress wipes like Escape From Tarkov? Answered

The good news is that The Cycle: Frontier does indeed have a form of SBMM at play, though it’s not clear exactly how it works. While traditional SBMM systems use metrics like KDR (kills to deaths ratio) to match players fairly based on their relative skill, The Cycle: Frontier, during its second closed beta, instead matched players up by how successful they were in their farming. The narrative of the game paints players not as soldiers, but rather as Prospectors — people who are daring or desperate enough to drop to the hostile surface of Fortuna III in an attempt to mine, harvest, or scavenge as much loot as possible. Thus, the SBMM system in The Cycle: Frontier used to match players up based on the average value of the loot they extract from their matches.

Now that the game has launched, we know that it uses a different SBMM system that puts players into buckets, but how those buckets are organized and what they mean