You are treating this the same as a season in Siege which lasts several months.
The Maelstrom Protocol has a new challenge/play through every week.
You simply need to achieve your rank each week to hang onto the cosmetic.
The real reward from Maelstrom is the Premium RC Credits you can earn every week when the challenge resets.
Obviously if you were grinding for several months towards something and it was taken away that would be bad. You could theoretically earn Diamond in a single run each week. We aren’t comparing like with like here.