Short answer
You How do you rebalance a ranked strategy without turning it into churn by turning the idea into a repeatable decision rule, attaching realistic turnover and risk constraints, and checking whether the workflow still holds up once the flattering assumptions are removed.
In cross-sectional ranking and selection, the useful version of this workflow is the one that survives a clear benchmark, realistic execution assumptions, and a portfolio context that does not quietly change the rules after the backtest is done.