Think they wanted t o slow the advancement of the skill to a bit more then over night 120s.
You cant blame them on trying to keep the skill gains to a slower pace then in the past. The xpac is not even a few months old yet. To be honest the system was also bugged, as only 105s were showing up for a long while. A recient new of a player on a european shard got a 120.
I do not think your rep gets dammaged by the stoneing of your skill, but it might be by Time..... like all rep your lord title will disapear in a few if you dont keep working. Same I think is the Rep with the fish mongers.