I think the only point of leveling is to get free cosmetics. Alternatively you can pay to get the cosmetics.The loot boxes seem meh and the skins are equally meh. The game so far for all its downtime seems admittedly unchanged as far as playing. The queues seem quicker tho but ive not noticed anything much else.
Im almost level 8 and aside from getting loot boxes i didnt understand the point. Then again perhaps i just didnt read into what the progression actually does.