As the title says, I think decreasing the EXP limits a fine amount would serve everybody playing the game.
The thing with grinding levels in DF is that there is only so much content that after finishing all the content you are still a huge deal behind reaching to level cap. After that, you usually mindlessly spam Voltabolt quests, which gives you one of the best exps in little time and even then it takes you a long long time until you reach the cap. It is basically no fun grinding EXP in DF after the content is finished. It is just aimlessly mashing buttons and trying to complete some specific quests that give you a good amount of EXP over and over and over and over again. It is a waste of time.
Furthermore, there is no need for an EXP grind that will give the players a reason to continue playing after finishing the story content anymore. DF has evolved from that. We now have challenges. Dozens of them. These challenges are all different and fun to do unlike doing Voltabolt's quest 3783838 times. The challenges are very much enough to keep the players busy and interested.
On top of that, these challenges are mostly locked behind this specific EXP grind people have to do to actually become strong enough to do them. Many people do not have the patience and time to do an overly repetitive grind to be able to do these challenges, and the way that challenges are a huge part of the current content now, I think it would be better if people could reach that level they can enjoy them much more easily.
So, in a nutshell: I think the EXP grind is too repetitive, time consuming and unfun. It also no longer serves any real purpose because we now have challenges that will keep people playing the game instead. This EXP grind also is very discouraging for more casual players and players who can't afford to put so much time on no new content. With story releases decreasing and endgame content increasing it would be better if reaching endgame was made easier so that more people could enjoy all of the releases and thus more people would stay/become interested in DF.
Therefore I believe cutting the grind a good chunk would serve everyone the better and I suggest it. The single disadvantage that I see on that matter is that it would upset some endgamers rn because of all the extra time they put into leveling. Yet games change in time and their rules should adapt too. Once the number of your level was everything you could show off with and the grind was justified. Now it is the era of the challenges and I think the game still needs to adapt to that.