I placed gold 4, after 7 wins jumped to gold 1. I think it takes multiple things into account, being team win as well as personal average performance.
Yes I was thinking the same thing. You should just look at your rank as it was in ow 1. 2000 SR is gold, 2500 SR plat, ect. It bases your ranking on not only win/loss but player skill. (Comparing your stats to all other players as that hero and bases your rank off that.)