I don't see the point in a level squish. If it is because it seems like alot of levels, well, you still have to get through the MSQ, which levels you to max on it's own, so that really isn't an issue. When taking this into account, you would also level slower to keep the same rate of progress. That really hasn't solved anything.

If it is to do with stats, then level is essentially irrelevant for that as well. Just change how many stat points one level gives and then they are naturally reduced. The game even treats 1-50, 50-60, 60-70 etc. as different level curves as seen with the EW stat squish. ARR was kept the same, 50-80 was condensed and 80-90 was the same as any other expansion in terms of growth.

The same arguments can be used for ilevel. ilevel is just a number, you can just change how stats increase with each ilevel. This however comes with another consequence. If gear doesn't increase stats enough, then gearing up becomes less and less important. By that I mean gear isn't going to help when clearing fights and it could be a detriment, depending on how you view it.

In the end, there is no reason to do a level squish, or a severe stat squish, especially in recent content as, at the end of the day, it serves no purpose.