May be possible that a reset does not get rid of the bug but does just what it says i.e. reset you back to 1500 yet in your next game all those who lose immediately drop back down to the magic number again. Who's to say a reset will destroy the bug? People can still have the bug yet not have their ratings affected.
I think reset is probably in order, but I also think it is a possibility that the underlying cause may have to be resolved initially before a reset will be of any use.
I am no computer genius I can't say for sure. I am just going by the logic that treating the symptoms doesn't necessarily cure the disease