I believe it has something to do with the connection you specify and the way PSN inaccurately checks connections. I used to have to wait forever to find ranked matches. Literally, 20+ minutes. I changed my connection type to Any and I started finding lots of players. The thing is, I've noticed very little lag at all. Players that show only a single, red bar I'm able to play just fine with zero lag. Since making the change, I've only had one match where I would say lag was a legitimate factor.