I think they all have their uses.
I don't know what the discussion at MediaMonkey entails but
Love and
Ban are carried over from Last.FM which was designed to work more like a traditional radio station. I think in its early days, users weren't selecting which songs they heard - Last.FM would play a song of its choosing and users would tell it whether they liked it or never wanted to hear it again. The users' choices would be used to gradually tailor a personalised profile of their likes and dislikes so Last.FM could operate like a radio station that only played songs a user would probably like. This would also include recommendations from other users who seemed to have the same musical tastes. Even in the early days of mass internet adoption - over ten years ago - it wasn't a terrible idea.
Ban in MusicBee could probably substitute for a Bomb rating but I think is included separately because it still bans the song on Last.FM as well.
I see the difference between
No rating and
0 stars is that 0 would suggest you have listened to a song and hated it vehemently, whereas
No rating would suggest you haven't heard the song at all, or at least not yet formed an opinion on it.
At least they're all separate options and no one is forced to use either or both.
Bee excellent to each other...