Don't increase level cap on fishing. It'll just be another form of vertical content if cap is furthered. Just make recipes for things that have a player level req and new spots for everyone.
What I don't get is why fishing even have levels if all the damn fish is the same basically? Why can't it be like Runescape where you can buy a net and fish food and just fish without having to worry about concentration all the time. It's like one cast into a puddle and all your concentration is gone.
I think that would be better than what we have now, although I understand OTM for not copying RuneScape. Problem now with Fishing is, after 2 updates that included Fishing stuff, it's still not worth it and whats the point of doing a Fishing Quest when by the time you finally completed it, you're no longer fishing in that area anymore. This can be either because its poorly designed or not finished yet. I hope OTM will add cooking soon, meaning you can cook your own fish into lixes or something that gives a boost to your stats (like that OW potion quest) and/or gives some sort of skill that could be useful for leveling and raiding people.
Also, its nice to say the drop rates of all those tokens is increased, but it doesn't matter if the drop rate of sunken chests is still the same.