Here's an idea... bring in the party level synch like they did in FFXI. The party leader selects a party member and it synchs everyone down to that character's level. This way, if a group wants to blow through content with their higher level gear/stats they can, or if they want to synch down they can. The framework is already there with the FATE's synch feature, they just need to expand on it. It could also be used in the real world as well, just like we used it to grind out exp. in FFXI.
It should also be pointed out that eventually they lifted caps from a lot of areas in XI. This ultimately resulted in newer/inexperienced players advancing through content they either could not or would not otherwise get through. IDK how many times I ran people through level cap fights, Sea and Sky mission runs, (and various other expansion story lines), helped them beat their weaponskill fights for alts and such. It breathed a lot more life into older content for a LOT of people by simply reducing the need to wait all day to gather enough people to suffer the tedium of running old level 20-75 capped content once they had reached the peaks of 99+ level gears and full merits....just had to find one or two high-end peeps to help you out.
So, there is much merit in removing caps for content... just as there is merit in enforcing them also. The problem is, at this early stage of the game (when put up against the decade that passed before uncapping things in XI), there cant be a one-size-fits-all approach to the dilemma. Clamping down too much runs people off. Letting loose the reigns will run others off. What we have now is more of the happy medium approach... it clamps down just a little to try to keep it from being absurd, but not so much to completely turn off a large chunk of the playerbase.
It's pretty safe to say that if they were to suddenly tighten the caps on this content further, it would hurt the DF more than it would help...we've already seen queue times on our server increase dramatically since they were brought back. The content that queues quickly (I mean like, <5 minutes consistently for hours on end, even as DPS) is the uncapped content that we can run repeatedly for tomes, lights, etc...
It's become quite apparent that the more popular content is the quick and easy approach that lends itself well to farming. Those needing the story grade content are having to wait longer and longer at the lower levels because of it...which is a problem where SE needs to wake up and smell the coffee and address soon, or they may wind up with the same situation we saw in XI---a fresh crop of players needing to do the important pre-req stuff to gain access to higher level content but not enough people around willing to help them out. Level caps can be a big disincentive at the heart of such issues.
However, if they do one day decide to lift the caps like they eventually did in XI, I think they need to first research the option of giving us the manual party level synch feature like we got in XI. This way, those that want to have that old vanilla feel of a level appropriate party can easily make one without having to tote around multiple sets of gear, and those that want to just carry friends through (or just faceroll old content for sh!ts and giggles) can do so freely if they choose. Both sides win.