Seems like it..... :-[
aesop, you're forgetting that an Lt can be an aircraft captain with a Maj co-pilot, just because you're a Maj, it doesn't mean you're in a supervisory role, at least in an aircraft. When majors come back to a community (TacHel, MH, etc) after being in a ground job, they'll be instructed by Capts since most instructors are Capts. I don't know of any majors that have remustered, but I know lots of Capts from all kinds of different backgrounds, Infantry, ANav, MARE, MARS, etc. I also met an Infantry Capt turned MARS officer and I know a few pilots that went M.O. or Int and they all kept their ranks.