The point? There isn't one for most of us. I just hit 130 but not intentionally. After 120, I just didn't care and I've been doing whatever to pass the time and it just so happens that I've gained another 10 ranks... but there's no point. I'm glad that I can keep ranking up though because I have always despised level caps.
If you're asking about the morons who RP glitch their way past rank 200? And why they do it? They just think it's cool to have the highest rank in the session - that number is their virtual peener ("lol minez bigar tehn urs" - that kind of bs). Or they like the hate that it draws... I am guilty of hunting down some of those crapbags myself and I know I'm not alone because I see it all the time.