FYI, I was wrong, both my Alpha logins are active. 

Same happened to me today.  I had to request a new password to login in.  In addition, I had a portfolio with my previous email.  I expected my portfolio to be available on my new email in addition to my user id.  Those 2 important things did not happen.  In my professional opinion (Principal Software Developer), it appears to just create a new login and delete the previous.  Am I missing something?