Matilda is a bit overranked at the moment. The points earned that will fall off soon were from weaker tournaments. The arguments on another thread about Rus playing 25k kind of have a similar point here. Rankings arent always reflective of a players current ability. All very interesting all the same.
She is only 18 years old, even younger than Emma. Emma's year has been OK, but not great because she has been trying different playing styles which haven't worked as she hoped. Maybe Matilda has been doing the same. Like Emma she had one high scoring event last year, in Matilda's case a W25 final. The girl who just beat Matilda also beat the 8th seed so is probably on a bit of a roll.
Matilda's high scoring ( 42 points ) Israel W25 final included her one victory against a top 400 player (WR 328) during her latter 2021 general big points run through South Africa and Israel.
Overall she has only ever had 3 wins against top 400 players with the highest ranked being WR 311.
All the very best to her but young though she may be, it is very reasonable to say that these latter 2021 fields were relatively weak and to suggest that she ended 2021 quite a bit overranked and continues to be so.