Well it allows you to... Feel special about having 5 Stars?
Honestly, whatever point it had probably stopped working/existing/something a long while ago.
I think it
might have made you less likely to play with people with low ratings when you had a not-low rating [footnote](Keep the annoying people piled together and out of sight?)[/footnote] or something like that, but the fact that anything below 5 Stars is about as rare as a Shiny, whatever it's effect is pointless.
So yeah... I'll go with "No".
Vicarious Vangaurd said:
It doesn't change your star rating but whoever you leave a negative response to, you're less likely to play with them again.
Considering how rare I find it to be that I ever see the same person twice
at all, doesn't seem like it's worth the 2 seconds it takes to press.