I recently hit level 30 (Finally!) and I expected it to feel like an awesome accomplishment. I've reached Destiny's level cap for now, and when that happens in most games you get a bit more reward than the 500 glimmer I got in the mail shortly after. I don't even feel that powerful in game, either. I can still get mobbed by level 12s if there's enough of them. I figured being level 30 would make me feel like I'm the Darkness' worst nightmare, but it feels the exact same as, say, level 20.
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Yep, being level 30 is only beneficial for the hard raid. Finally you can do 100% damage and take more damage as well. Other than that, being 30 is just prestige.