Arena Predators getting placed Bronze 4

Product: Apex Legends
Platform:PC
Please specify your platform model. PC
AMD or Nvidia Model Number any
Enter RAM memory size in GB any
What is your gamertag/PSN ID/EA Account name? not relevant
Please provide your squad mates' gamertag/PSN ID/EA Account name if possible.
Are you using any software with an overlay? No
Which Legend were you playing (if applicable)?
Which Legends were your squad mates using (if applicable)?
Where did the issue occur? Returning to the lobby after a match
Which part of the map or menu were you in? If you don't remember the exact name, please describe the area or what you were trying to do in the menu. none
What were you doing when the issue occurred? E.g. respawning a squad mate at a beacon, using an ability, a squad mate left the game. nothing
Did your squad mates also experience the issue? I don't know
How many matches had you played in a row before the issue occurred? 10
When did this happen? (dd.mm.yy hh:mm)
How often does the bug occur? Often (50% - 99%)
How severe is your issue? Major impacts to gameplay
What happens when the bug occurs? Highly skilled players are getting placed in the lowest possible rank
What should be happening instead? they should get placed closer to their skill group, for example predators should get placed Platinum or similar
Steps: How can we find the bug ourselves? Step 1: Be high ranked Arena player Step 2: finish your placement games, winning most or all of them Step 3: Get ranked Bronze 4

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So, many former predators are apparently getting placed Bronze 4 which is literally the lowest possible rank in the game.

Surely, this is a bug right?
Example included:

On his tracker you can see he he used to have 16000 Arena Points last season. After winning 8 games he got placed in Bronze 4 with 0 AP.

https://apex.tracker.gg/apex/profile/origin/iHarry44/overview