It's about recognition for the work we've done. I don't feel as if it's my "right" as an ex-member of staff, but having been given that recognition at one point, it hurts to have it taken away. Having a pink name showed that we contributed to this community more than the average member, and made a difference to the quality of the servers through our work as moderator. With platinum rank, even though you may get more votes, you possess a rank that anyone can buy, and it doesn't show any of the work you had done as a moderator.
Additionally, not all of the ex-friends have received platinum (e.g. me). I'm not sure if this is specific to certain players who used to have the friend rank, or if the process is just taking longer than expected, but either way, the statement is false.