Ranked choice also violates several fair-voting criteria. As does every voting system, but ranked choice violates two big ones:
Condorcet criterion – the candidate who can win in a head-to-head matchup against any other candidate should win overall
Monotonicity – If opinion of a candidate improves (i.e., if a bloc revises its ranking of a candidate higher), the candidate’s ranking overall should not decrease, all other things remaining equal
That said, Arrow’s Impossibility Theorem is a cruel master. Social choice theory is weird.