Agreed on this.
On an off-topic point, what you said about F2Ps is exactly why I didn't want to raise the level cap: widening the gap -> less satisfied F2Ps -> F2Ps tell their friends that the game's not worth it because nobody even has a ghost of a chance to catch up.
I don't want to divert from the topic more than that so I'll stop there. But yeah, what you said makes sense to me. Consumption wheel was pretty bad, especially the fact that you'd spend ingots and get bad rewards.