My thoughts:
- Being a reapplicant in and of itself doesn't mean much. However, there are usually reasons why someone needs to reapply, whether it be inadequate GPA, MCAT, school selection, essays, interviewing skills, late application, IA, etc. So being a reapplicant serves as a potential (but not foolproof) indicator that there was a flaw somewhere. The flaw is usually pretty obvious.
- You are judged on your application at the time of each submission. As long as you have addressed whatever sunk your application the first time (in this case, the late application / MCAT score), you will be given a fair shot.