You are on the right track.
To "regard" someone is generally assumed to mean we hold their opinions on a high level. One might "regard" a vegetarian as one who respects wildlife. However, when we "dismiss" someone's opinions, we actualy show disregard. We used to think that vegetarians were cranks (silly fools). We no longer "dismiss" them as cranks. We now "regard" them as sensible eaters.
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