The ranked ladder has a soft reset (basically the Elo 'ladder' is scrunched together; those at 1200 will stay at 1200, but everyone else will be moved closer). There are no other direct effects on you unless you're involved in the competitive scene (championships) and a few other minor details (during the Season One championship, they had minimal changes from patches, only dealing with bug fixes and playability issues, no balance changes).
Source: HERE