Hovering over the guardian badge shows just 2160 total guardian badge holders. However total users with rating above 1600 is ~58588. That means total guardian badge holders should be 5% of 58588 ie. 2929. Indeed this user with 2927 rank https://leetcode.com/tanvirtareq/ has his guardian badge equipped.(at the time of writing)
.
Same is true for knight badge as well site shows 8636 knights are there. However ranks 2929 - 14500+ are knights ie. approximately 11600. Example https://leetcode.com/lagaHuaHuBro/ with rank 14579.(at the time of writing)

Why are the number of knights and guardians shown slightly lower than top 5% or 25% of users rated above 1600.