They did a lot of improviments in the last days (sorry the late update):
https://www.halowaypoint.com/en-us/forums/85d779d52cfd46918b4f8b638f2e3c7b/topics/the-master-chief-collection-bug-investigation/e024f78f-6022-4a49-99ea-67562ec5b4ca/posts
Some playlists are yet missing and other have reduced numbers of players or no ranking... they are working on that... there is some matchmaking issues but not that big anymore... so it is possible to play with friends if you have patience.
There is a lot of work to do yet.