This article reviews the history of world university rankings and their large-scale impact. It then analyzes some of the criticism of the world ranking systems before exploring their impact in the context of Thai universities. The authors' assertions centre on the premise that much of the criticism of these ranking systems can be divided into three broad categories: criticism of their conceptualization and guiding ideology, criticism of the methodology that they employ, and criticism of their influence on universities and other stakeholders. These criticisms cut across national borders; however, some apply to a greater extent in certain contexts, for example in developing countries such as Thailand. The article then details how these ranking systems have shifted academic attention from teaching quality to research production through the creation of annual performance assessments which are heavily skewed towards research and the creation of lucrative research product rewards systems which can create an organisational hierarchy of faculty based solely on research output through academic positions and financial rewards. Although some may criticize the Asian universities' and faculty's, i.e., the 'players'' responses to the academic rankings, these responses are predictable and rational adaptations to the 'game' that has been imposed on them.