IS this the (foreseeable future) end state for virtues?

[JimhadaUK]

Actually virtue cap has not always been 20. I remember times when it was in the 10s and raised with certain level raise updates. So at 120 it's clear (after their own formular of +1 per 5 levels) that virtue cap should be 24, going to 25 at lvl 121.

Thats correct, Virtue Cap at 50 was 10, and it was very difficult to achieve that.
My problem with this, people purchase +1 virtue tomes, only to now find they are worthless to that character.

If this is a direct result of not allowing LS characters to buy up to level 20, then that should apply only to that server.
If someone on the LS server buys a level 50 Gift of Valar, those +4 virtues that come with the package would take them above the maximum that anyone else on the server could achieve.
If it looks like brown, and smells like brown... usually it is brown.