So this means if I am capped at 10000 DS points, I can do both DS & LS Diplomacy missions with no change in my alignment since I can't get anymore points? Interesting

Probably because those reusable ones are BoP, so they are your bonus for taking Biochem. Everyone else will have to settle for the purple version of the Ultimate Medpac which is BoE and can be sold/traded.

But it's not 2004, it's almost 2012, we shouldn't be in this situation anymore lol....

This is a play style. Some people get to 50 and start working on their toon for the long run, which is what you're supposed to do in an MMO. You develop your character through gear etc. I am also 50 and quite disappointed that there are 2 daily quests on Ilum I was able to find. One or two on Belsavis also. There is nothing to do to progress once you hit 50 besides Flashpoints, which I is fine when people catch up. I guess the main concern the OP left out was what do we do if we are the type who enjoy one character and making them awesome lol. If there is nothing to expect endgame (which is where the vast majority of the time spent is), then where is the longevity of the game?