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In the Japanese version of the game, the El Oriente expansion increased the level cap from 65 to 70. The later Tierra Americana expansion assumed a level cap of 70, until the last portion of the expansion raised the cap from 70 to 75.
In the American version, they skipped El Oriente, to release Tierra Americana first--and left the level cap at 65. They had released the first three portions of Tierra Americana, leaving only the portion that increased the cap from 70 to 75. So even if they didn't go back to El Oriente but finished the Tierra Americana expansion, the next patch should have increased the cap.
The new patch arrived today. And the level cap didn't change. Rather than finishing off the Tierra Americana expansion, they went fishing for assorted things that they could do without increasing the level cap. The headliner is probably grabbing the Memorial Album out of El Oriente, which should make some new items obtainable.
Apart from that, there's a handful of merchant and maritime quests that people probably won't do, extra carriages in interior cities to save a bit of travel time when you're safe in town anyway, reduced acquisition requirements for several skills that were a pain to acquire, and a few other such things.
Color me unimpressed. It's not that the patch is bad. It's just that it's not the patch that the playerbase is waiting for.