To answer the OP. I'm fine with the level 4 cap. I like exploring, so gaining or not XP has nothing to do with why I'm going in corners of the map.
I also replay to try the different approaches to quests and see what happens.
Eh, sort of. At first I thought I cared more about other classes too.
But then you realize that as long as the level cap stays this low, you hardly even reach the point where classes actually start feeling significantly different to play.
They want feedback on basic gameplay first, and going by the reaction to the homebrew stuff, it was a wise choice. If there was more levels, they would have had way more stuff to alter based on feedbacks which means longer development.
The level 5+ content is clearly not there as the few enemies with level 5 features are either buggy or have incomplete feature-set. The level 4 cap isn't a case of "lock players at that level", it's a case of "we haven't implemented anything beyond that level yet".