Anyone remember how quickly after BL2 launch Gearbox Increased the level Cap?

Just trying to get a feeling for whether farming for level 50 gear is worth it.

Also, It’s been so long since BL2 I don’t even remember how the level cap increase worked and if skill points went up with levels past 50+ (i.e. If the cap went up to 69, did we get and additional 19 skill points to spend or did skill points cap at 50 no matter the level cap?)