I do not miss the old lv 75 xp/hr, but they kinda overdid it with Abyssea and Voidwatch.
I'm all for making the situation better than it was, but between that extreme and the current one there were a whole lot shades of grey.

It's a bit too late to turn things back now, after so many people capped everything and after so long.
Since they're so adamant on not removing cap on Merit upgrades (it wouldn't solve the issue anyway, just delay it further away) making so you can convert Merits into "something", whatever it is, could be a cool idea.
Would be kinda hard to balance it with certain rewards but sure, I'm all for it.