I may have missed a blog post or something.
There is a new page up which says in order to be level 2, you need to maintain a rating between 4.7 and 5-stars.
In order to get to level 1, you need to have 5-stars over 10 orders or you won’t get there. This, effectively, means if you do not 100% the first 10 orders you get, you stay as a new seller forever.
Did I miss the blog post which updated this?