They took away the level-up-cache reward when gear 2.0 dropped, took you long enough to notice but yes. NO MORE CACHE when you level up, instead you get SHD points(if you haven't reached season level 100)
In fact you can see exactly what reward you can get when you level up with your season levels, go to the seasons menu and "track your rewards".
When gear 2.0 was introduced, the SOTG or news about it was mainly focused on how they are trying to cut down the useless amount of rewards players get(that you might just trash and dismantle it anyway), so instead of getting six or five loot from killing a boss, you get two or three, four if you are lucky.
But yes, no more "proficiency caches" if that's what you mean. Not a bug
You still get points after league level 100. You just don’t get rewards per level (if you have the season pass). I reached 100 in the first week or during the first event. I had hoped it would refresh or restart so I ran/sprinted through it quickly. Currently I am at shd level 256.
SHD points are good until level 1000. That will max out the watch in all areas.