So it seems people are bad at doing global rankings. If I tried to rank myself amongst all programmers worldwide, that seems really hard and I could see myself picking some "safe" above-average value just because I don't know that many other people.
There's also: If you take 1 class in piano 30 years ago and can only play 1 simple song, that might put you in the 90th percentile worldwide just because most people can't play at all. But you might be at the 10th percentile amongst people who've taken at least 1 class. So doing a global ranking can be very difficult if you aren't exactly sure what the denominator set looks like.
So I think it's an artifact of using "ranking" as an axis. If the metric was, "predict the percentage of questions you got correct" vs. "predict your ranking", maybe people would be more accurate because it wouldn't involve estimating the denominator set.