I’m also of the “it’s gotta be a bug” mindset.
All of my gear is either at 148 or above. No pieces are below that. I am past Renown 10 (I’m at 12 now). My WQ rewards were showing at 148 prior to me reaching Renown 10 (the threshold at which the game states they would increase) and they’re still showing at 148, even after 48 hours. The only thing we haven’t waited for is the weekly reset, since we achieved Renown 10 Tuesday evening.
Our thread is here: Renown 10 - World Quest ilvl not updating - #8 by Nysse-earthen-ring
Furthermore, as evidenced by other threads recently posted, there seems to be a distinct bug in what the map is showing and what is being granted. Things aren’t working right at the moment, and I have a feeling that all of us “locked” at 148 are being affected by it.