Hey there!
I do think that resets and new seasons are good to keep it interesting and draw in new and old players. I get losing progress can be frustrating, besides making a whole bunch of progress over a whole year only for it to be wiped and you have to start from scratch again can seem like a waste of time. But over time it can get a bit boring with the same world/season and it's good to have some kind of reset as there's only so many things you can do. And like mentioned above with season vault items (meaning they can be brought over and transferred to the next season) and cubits it's something you can collect and it won't ever be reset!