I’d like to see the Valor Cap removed and/or the upgrade cost changed and here’s my argument for it.
I’ve spent my valor points on items I have since replaced with higher ilvl ones, making those points wasted. It pushes you to sit on your valor points until you get a high enough BiS, because you could still get a higher ilvl from another run or your vault.
Therefor it becomes a weird currency. You can upgrade with it, but mostly you don’t, because you can miss-spend that limited currency easily.
Solution, don’t limit the currency. We shouldn’t have to sit on it, but should be able to freely use it. The cost of upgrading is relatively high (as a Fury warrior: 1000 points per upgrade of one of my weapons will take me a loooong time to max those out).
Alternatively or additionally, scale the cost of the upgrades. A lvl 1 to 2 could cost as low as 25 points for a ring, a lvl 12 to 13 for that same ring could cost 2500 or something.
What this will do is help people with lower ilvl gear catch up. They can keep running lower M+ dungeons to catch up in gear to do higher keys.
You could then also scale the amount of valor each M+ gives, so there’s an incentive to go higher.
As usual with M+, you can see a rift forming between those who are doing high keys and the rest who are stuck at the lower keys. You can see that because, in the LFG tool the listed dungeons are increasingly higher keys, and lower key dungeons are not as prevalent. It’s because the hardcore M+ crowd moves up and away.
A healthy M+ environment would cover the whole range of keys in equal manner.
Giving those stuck in the trenches a consistent catch up mechanic in the form of Valor Point upgrades would improve the M+ scene.
It will help those on the bottom rows to keep engaging with the game instead of giving up because their IO isn’t high enough.