It would be nice to have 2 separate rankings (1 for however novels are ranked now, and 1 for novels users like/upvote/select etc.) Mainly because it seems like the novel rankings have been stagnated for a while now and diversity is good. Just a thought, by someone with zero brain
Just use Series Finder. You can sort by number of readers, releases, release frequency, number of reviews, rating, etc. Though release frequency is constantly dropping for Completed novels and all kind of walled novels. And the release number (and last updated) stays the same for walled series too. So readers and reviews should be a better choice.
Why don't you check out the various methods by which the ranking is done? There are multiple rankings... Just explore a bit.