The author argues:
The strike rate index appears to identify journals that are superior in their field and to allow different fields to be compared without recourse to additional data. A good way to select journals is to rank them within a narrow field on impact factor, then ask how difficult is it to get published in that journal, how respected is the editor and their staff, who else publishes in that journal, and how long does it take to get published. All of that is valid, but once the impact factor is reified into a universal measure of journal ranking, those other aspects are apt to be forgotten. When organizations or governments set universal thresholds based on the impact factor, it can be hard for individual scientists to argue against them. The strike rate index helps to address the gap in knowledge of the meta-data associated with the publishing of science, by looking at the long term record of a journal in publishing highly cited material relative to the number of articles published.
We now have at least four different ranking measures: the Impact Factor, probably the oldest and best known and often used by journal ranking sites at least as part of the ranking formula, the h-index (which produces oddities when applied to journals because of the age factor), the SCImago Journal Rank - which appears to produce a ranking very close to that produced by the Impact Factor (and which is a little problematical, since it produces ties), and now the Strike Rate Index - again, presumably because it uses the h-index with its age bias, produces a different ranking from the Impact Factor and the SCImago Journal Rank: for example, in the list I posted the other day Library Quarterly ranks 10th with the IF, =6th with SJR, 2nd with the SRI. Perhaps even more surprising is that JASIST, which ranks 2nd with both the IF and the SJR, ranks 10th with the SRI.
Take your pick - the assessment of 'quality' is always going to be problematical and one criterion (possibly the best?) - the acceptance/rejection rates of journals rarely gets released by publishers :-)