I suspect the cap is there for a gear change. I guess as ilvl increases, soldiery gear will bump down to myth tomes, myth to Philo and a new gear level will be available using soldiery.
If there were no cap, as soon as the soldiery gear became myth players could just have a full set for their alt jobs as soon as they hit 50. It would also apply to SE adding in aesthetic items to prevent people buying loads and flooding the market boards with them.

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