Wow. We are more split on this than I thought. I appreciate all the feedback.
I understand, and somewhat agree, that all of those who say that the standing cap is healthy for the game. It prevents burnout in some ways and prevents people from blowing through content in a day or so. However this does not address the feeling of wasting time. Just seeing that the cap exists can be demoralizing. I've taught a handful of new players and they all dislike this system. They feel like they cant just sit down and grind out Fortuna or Cetus. However, the cambion drift is more kind. The token system there is, I think, a very good solution for standing caps. I can still grind standing even when I hit my cap. It's just in the form of tokens. And when the reset hits, I can turn them in by the handfuls. I'd like this system to be implemented into the other open world factions. Of course, I can just give my friends fish and then they can turn them in for standing, like tokens. I doubt this is what DE intended in the first place though.
As for Syndicates, they don't really need an adjustment since their reputation is so passively gained. Just play the game and you get standing. Grab a sigil and do other content.
As for claims of 'go do other content while you wait' Isn't exactly a solution either. For example my friend want's the Tatsu. It's a cool looking sword, so how can I say no? He was able to get the Hespasm for the alloy, but when he needed the auroxium alloy he needed two more ranks in Cetus. He doesn't have a choice in what to do. He HAS to play Cetus if he wants the Tatsu. Sure he can go do other content to pass the time, but how is that any different from going and playing another game? He is being told 'go do something else.' and he doesn't want to do something else. He wants to play Warframe. The resort is the aforementioned providing fish strategy. I'm not saying that fish standing should be reduced, that's not what anyone wants. I just think that there are better and more entertaining ways to grind standing, but the cap just makes it a goal to reach and quit.
When Fortuna came out, I almost quit the game. I felt like I wasn't going anywhere and I had to go do something else. The problem is that I HAD done everything else. I didn't have a choice. Yes, this is a very unique problem, but I can understand why the cap just existing is draining.
In retrospect, a soft cap isn't a solution. I think our best bet is implementing the token system into the previous two open worlds. It would still feel like I can grind out standing, and prevent blowing through content in a few days.
I genuinely appreciate the replies from all of you, and the feedback you've given me. You all have some wonderful ideas and points of view. I hope that DE will see this and understand where we all are coming from with this. I believe a change is needed. We shall see if one is ever made.