I agree.
Perhaps because this has been a longer wipe more people have hit rank 50. More than likely it is because of the change in rank refresh that happened earlier in the wipe. Regardless, more people have reached rank 50 this wipe, and while reincarnation is great, I see no reason why players who want to continue playing cannot continue to add ranks. The argument that it makes players overpowered does not seem to ring true - what can a player do with 64 ranks they they couldn't do with 62?
That said, I believe that ranking past 50 (not including reincarnation ranks) should be painfully slow - basically 10% harder each iteration. Thus a max dynamic rank would be .18 after 50, .16 after 51, reaching a point where max rank would be under 0.05. This would make progression so slow that players would not just be able to "power-up" to rank 100, but at least there would be some slight and gradual reason to keep playing a character you've put 30 days of game play into.