The only argument I have against not increasing the level cap is...man, we really need another talent row. Unless they put that behind some arbitrary main quest gate after you've completed all the zones, which would feel deeply unnatural.
The problem is also that some people choose to level in their own ways (i.e. some people like to run more dungeons with friends even if it isn't as efficient) and I'm not sure how that would fit into the idea of not getting concrete progress through that.

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