The problem is not so much in the fact that a lv50 is wearing i200,

The problem is, when that lv50 hits lv60/100 (new cap) What incentive is there for that player to aquire the new gear equipable by a lv60 character, unless that gear is a of a higher iLVL than what he/she is currently wearing.

If cap went to 100 tomorrow, we wouldn't NEED any new gear until lv91, unless gear followed the +45 gap the whole way up.