Is there an actual benefit to raising Magikarp's max level?

Is there an actual benefit to raising Magikarp's max level? - Brown Elephant Walking on Green Grass Field

There is an event that, with a certain risk, can raise your current Magikarp's maximum level by 1.

The more I think about it, the the more short term any possible benefits of the raised max level seem to be. It doesn't carry over to the next generation, so it'll be just as slow. It'll infact take me longer to get the benefits of going to the next generation.
Even in the current generation the only benefit I can think of is a longer run in the League. This might give more money (or it might not), but I fear that even this is balanced out by the delayed next generation.

Is there any benefit beyond the current generation to raising the level cap of a single Magikarp?






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MAGIKARP WILL FUCK YOU UP




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