This season has been going on for an entire year, is it even going to end? The rank 1 player has almost 7000 elo, that's completely ridiculous, besides there's not much incentive to play after master rank (the highest rank) because of the lack of players, being high elo would get you queued with people that have 0 elo anyway. Maybe you'd keep your ranked playerbase for longer if the resets were more frequent.
Given that the ranked season has been so long already I think another hard reset is needed.