As i said, if you dont ever plan to advance from Geneticist to Elite, then you are right, you haven't lost anything
IF you DO plan to advance from Geneticist to Elite, you have lost the time you spent advancing from Collector* to Geneticist (plus whatever progress you have made from Geneticist to Elite) - and, at least for me, time is very important
So, before seeing any progress towards Elite, you will need to get enough credits to regain the lost ranks due to re-ranking.
so, it's not as Sally said - the progress bar has to catch up, as much as is you need to regain the lost ranks (which lost ranks we cannot see, because we still keep the current tags)
edit:
* making stuff here, cause i have no idea the multiplier FDev applied to ranking thresholds