Interesting discussion....
Well first of all, most MMO don't make nearly as high of a jump. Typically they only raise the cap 10-20 levels or they run into power creep. Look at how WoW had to reset every players level back down to 60 or something a few years ago.
I'm not sure "bragging rights" are something that Raid players like to gloat about. The energy cap is a whole different discussion though. The energy cap of 130 hits at lv 60 (maybe even 50, it's been awhile) and hasn't gone up from there. While I agree that an energy cap would be nice, I don't think adding more levels would affect that.
I would say that the only benefit we would get as a player with an increased level cap is a new account progression rewards and perhaps another progression bundle in the shop. Which to me, are not really appealing to have. As an end game player, I get faster and better rewards from Curse City, Doom Tower, and Grim Forest.
Also, I wouldn't call Raid your typical MMORPG. MMOs are now a large, broad group that seems to encompass basically any game that you play against against someone else online. The catagories are so diverse now that basically any modern game can be a MMO, even Madden 25. Raid being a pay-to-win game means their model wouldn't benefit from increasing account levels unless they can sell you something more. Whales and krakens make up a very small but important group for a game like this. However, 99% of the player base will see no benefit.