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You did not get 1 ego point for every 10 ego rating in the last beta. I counted and found that out as I also assumed thats what happened.
Every time you fill up the xp bar you get 1 ego point and 10 ego rating. There is nothing stating this hidden level, although you could figure it out by how many points you have.
Ego rating helps with the level of your equipment, what coop missions you can do, what perks you can purchase and so forth so there is still a point to doing pursuits.
I do not know what happens when you hit the ego rating cap, and wether you could screw your self on points.
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If you put it that way yes. But there are promotions that give ego point. Like the savager one from the ego 120 codes. Getting that 5000 is not a easy task.
