Pretty sure what was meant by @pinballr was that other sports have separate womens and mens competitions/divisions based on the fact that men and women are different physically. They're not split as some kind of promotion of womens sport.
Women and men compete together at the Olympics in the Equestrian events where the physical differences aren't as much of an advantage/disadvantage.
Personally I don't believe that there should be any additional competition or trophies for women based purely on the fact that they are women. The message it sends out is that you did well to finish in the top 4 of your (implied inferior) subgroup here's a chance to have a further game while we wait for the main competition to resume.
Why not have a similar sub ranking competition for Asian competitors, another under represented group (at least in the UK) or people who are gay, or redheads, or over 50s, etc. etc.?
To further promote the inclusion of women in competitions it should be about making the whole environment more appealing, not by offering trophies, which don't stand up against the rest of the field.
A think a subranking system is patronising to those it is actually trying to promote.
These are my personal opinions - however,
My partner was extremely happy to receive a trophy for finishing outside the top 100, but 3rd highest placed woman at the London Championships a number of years ago.
I also am the overall coordinator of the UK League, where again, trophies are awarded to the highest ranked women across the country, despite the fact that they often don't even compete in the same regions thus not even playing against the same players.