I will say, though, if the game didn't increase its max level, it would certainly make it easier for players to join the community at large.
Will that also make players leave the game more often? What would be the incentive to stay?
If there's still some kind of progress involved (let's say you could infinitely farm vigor and stamina if to speak about allods) then the gap between old and new players will still be growing even if there's no level cap.
If there's no progress then it's called MOBA and there are lots of games of that kind out there.
So we'd be left with one last option when you don't always win the game but you actually lose. And by lose I don't mean getting 10 weekly realgars instead of 30. I mean full-drop kind of a lose. When you need to fight again for what's already been yours. Don't think the community will like this approach too much.
But maybe there are more options?