Hello medusa1234,
Perfect Word is a cooperative game. All players are one team. At the end of the game, there is just one score (the rank) for the team of all players.
During the game, you write down associations (words). If at least half of the players write down the same word, it is considered a good match and the team ears a seashell token (1 point). If more than half of the players have the same word, it is considered a perfect match (you flipp the seashell token to the „perfect“ side, it counts as 2 points) Therefor you try to write down the most obvious associations, as you want to match with as many other players as possible.
At the end of the game, the team gets a rank depending on the number of earned seashell token (perfect tokens count as 2). In Perfect Word, this rank is called „reward“.
So, yes, you are right: There is no looser and there is no winner. There is a rank/level, telling you how good all players played together as a team.