Rank seems based on total cash, and dynamically set, so changes in "how rank is determined" (or level breakpoints) don't really relate to any other old account variables directly. Gots the cash? Then yer THIS rank now! Not like I'm an expert on it, but that's how it seems to be behaving.
'Course, I don't MIND the reset. Heck, maybe I can play there soon. Maybe I'll be Rose Petalsniffer or something, as Hellif obviously won't pass the "genedefect name test (tm)". : P