Makes you wonder what happened to the days where people didn't see a level cap as a flaw.
A level cap is basically an admission of flawed design.
If you've designed your game so that simply in the course of normal gameplay a character can become so overpowered as to make the endgame unchallenging or your character suffers no limitations then you've designed your game poorly. Fallout 2 for instance had no level cap you could ever reach in the course of normal gameplay. Fallout 1 had one at level 21 I believe but I have yet to reach it or get close to reaching it on any character in that game. Those games were designed in a way that made a level cap unnecessary. If you really wanted to farm random encounters or deathclaws for XP and grind your way up to level 21 or 99 there's no reason the game shouldn't allow that but it shouldn't be something you can do on a whim.
Level caps in the later games are necessary because the games are so strewn with XP (I have hit the level cap with multiple quests left over every time I have played New Vegas) and its so easy to max out or practically max out all the skills that no level cap would rapidly make endgame specialization worthless. As in fact it is to a large extent in Fallout 3 and New Vegas anyway (particularly in the latter without Logan's Loophole).
I'm not really sure why Bethesda retained level caps in Skyrim anyway considering what a mess that game is and allowing players to do whatever they feel like seems to be the only design philosophy Bethesda follows so it's no great surprise to see them go. I would like them to stay in Fallout for the reasons I've outlined above (although ideally the skill system would just get an overhaul and XP gain would slow down instead) but level caps are really not a good thing in games. They're an admission that you can't balance your game without artificially limiting a player's options.