Just tossing my thoughts here in case it matters:
Limiting Valor/Conquest at all when we are several weeks into the patch seems like an overall loss for most player types.
At best, you are stretching out engagement, and limiting player fulfillment time, at the risk of creating a player experience that is frustrating to engage with (being capped and continuing to do content). Some players may value the cap, as a way to feel “done” for the week. At worse, the cap is a frustrating experience, barring players from making sustained progress on their characters at a rate that feels personally gratifying. These heavily engaged players may want to target completing a gear set in PvP, or upgrading some new items to play with in Mythic+. Instead they have to wait weeks for new resets and cap increases… which is just not fun.
There is already an item level limitation for PvE and Valor, in that it only goes to 272, and 278 gear is obtained through Mythic raid or Great Vault. Enabling players to push their characters to 272 now promotes a healthy progression scale without rendering all content pointless - tier and trinkets make Heroic raid still important despite lower item level.
For PvP, this is just an experience preventing players from progressing their characters at a rate that feels rewarding. The cap increase will inevitably free this up, and eventually hit a point where the cap is so high it is irrelevant, but why wait to that point - when players who WANT to heavily engage could just get their just rewards now.
I would respectfully like to understand why the design is to cap these currencies this far into the patch. It seems like a way to respect the reward profiles early on the tier, but a painful/frustrating/confusing experience for various player types.
Thanks for reading my feedback.