Well, I figured I'd put my own opinion on the matter with a little constructive thinking.

• Too soon to increase ANY level caps for power features (Rune stones, Refine runes, or Magatama)
• This will NOT bring new and fresh air to the game, HOWEVER this may have been true
if everyone was up to par on progression though, but that is not the case.
(It will create further power gaps and cause more players to quit.) If you want to change the game for the better,
I strongly recommend that helping players catch up first would do this as it promotes competitive play.
(Players will have better odds to win their fights the smaller the gap in power gets.)
• IF you want to push these adjustments out, please strongly consider taking preemptive steps FIRST
to compensate the changes. This includes, but isn't limited to:
• Increase the method of acquiring the Cave Keys, Refine Runes, and Magatama
(strongly consider increasing the amount of Advanced Refine Runes awarded via Sage World for ALL players)
• Increase the frequency of Event appearing in the cycles
(OR) increase milestone rewards of Event Rebates (Cave Exploration and Refinement Rebate)
• Allow Basic, Medium, and Advanced Refines to retain their wishing credits for future use

That's just a small sample though of things to really consider before making an adjustment like this.
As a DISCLAIMER, I'd also like to say that these are just my own ideas of approaching the matter so expand on them
if anyone has something better or maybe a tweak to the samples provided.