This cooldown is set until you get your rank (after 10 competitive wins). In this time of 24 hours, your rank is calculated so you can get oponents of the same level, so it is not stupid at all, it helps not to get better or worse oponents. After the 10 wins you won't maintain this problem, the ELO points being calculated easier, depending if you win or lose.
From my point of view, a weird cooldown is the one you get for kicking too many teammates, that is pretty "stupid", because if you get trollers or griefers, you have to kick them.