The reinitialise button itself does nothing in relation to the database. All it does is to set the initialisation state to the beginning, and to delete the XML file.
The thing definition is read in when the binding sets the thing type, which is after the manufacturer information is recovered (about 1/3 of the way through the initialisation). This is not performed on every restart - but sometimes.
The database configuration parameters are always updated without having to update the thing - they are largely independent.