Isn't that more like if you're stuck in a time loop?

My understanding is that if you're reincarnated you're still in the current timeline (ie time has continued to pass), you're just now in a different body.

And if it's not a dharmic path-style of reincarnation and you're just reincarnated into whatever living creature needs a soul, you'd probably come back as some kind of bacterium for the next 200 trillion times before -- if you're reeeeallly lucky -- then reincarnating as a tardigrade.