Hey man, sad to hear that
I can feel that pain, I experienced quite the same - except I fell from level 2 to level 0. After three months of no help at all (SM and CS) someone from CS deleted the unrightfully impacting Order Cancellations which shouldn't have impacted me in the first place out of 3 reasons at least. Meanwhile, I had dozens and dozens of 5 star orders, but no change in my score at all. I'm still on page 1 of best selling gigs for German and international voice overs though, got the repeat buyer's badge every week, Fiverr's Choice most of the time, and so on. I had all of that, including a 100% score in every metric, before the new system dropped, too, of course. Yet, no change at all, still a level 0 seller - best selling, but still level 0.
It's so sad that I can laugh about it by now, I actually thought that I might be eligible for Top Rated or even Pro due to my metrics and high-end customers like Google and several nation wide TV campaigns. But Pro isn't open for applications at the moment and well, I'm not even level 1 so I can't even run ads - Top Rated is out of reach because of an algorithm that hates me but loves my success somehow.
All the best for you, hope you can leave it behind you!