Rangers are actually my favorite class mechanically. Full BAB and 6+Int skill points with a good variety of class skills is just great. From the fluff standpoint they are the base for some of the more subtle character choices. Not every second character has to be a Template stacked awakened Raccoon Gunslinger.

Here's a list what rangers can be:
- Defenders of the Wild
- Bounty Hunters specialized on FE prey
- Trackers and Scouts for armies
- local law enforcement (for some farms and woods)
- the single best mundane thing against his specific type of favored enemy

Seriously how often is a character devoted to crushing a certain subtype of enemy? Quite often I'd say. Demon hunters, undead hunters or just "monstrous humanoid" hunters. You really can't argue the effectiveness in that niche. And playing a main character for an adventure isn't quite fighting in your niche. But several (N)PCs justify having loads of ranger levels because FE bonusses do last all day.