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Nope! “Top K” means you’re on the high score list of size K.

Only the best players are in the “top 1%” for example. Being in the top 50 is more prestigious than the top 300,000.

Maybe if you do worse than half the people, it should invert to say the bottom 30% or the bottom 1%. Makes it clearer that you did "badly".

I think the current way is fine but showing position on the bell curve would help for those who struggle with interpretation