Bungie teased us with a possible new Level cap. Possibly the most insanity Bungie has ever thrown our way. Tell me what you think because my mind is B-B-BLOWN!
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I think that is showing the total light a guardian has from his/her armor, not the light level. Like how a lvl 32 guardian has 144 light. Being level 50 would require a lot of light most likely, resulting in those high numbers. They're likely using it as a measurement for testing things. Just my guess.