I'm gold level at VS and the only perk on the level up every 5 levels is that the gold wheel awards £100 or £200 (heavily biased towards the lower value judging by the bandit's diamond wheel spin videos for £150 or £250). So you get awarded a bit more cash than lower XP levels. Other than that, everybody is pretty much equal. You earn the same rewards for completing achievements as a newcomer. Gone are the days of being offered regular £500 deposit matches, even if the drip feed bonus release isn't great. Last one of those I got was March 2018.
I'd like to see tiered freerolls with better values for better loyalty, it would be nice to see free spins that are not always set to minimum coin value.
The old days of playing on Jackpot Party, a loyal player could look forward to £500 deposit matches with just 10x wagering. These days the cream has been skimmed off the top so much by the casino's that loyalty is almost worthless. It's actually been a good thing for me, as over the last few years I have mentally adjusted down to playing 20p spins most of the time whereas I used to play £2 spins max. There's no loyalty incentive to bet big these days other than looking forward to a SOW or customer support email 'reaching out' when you've deposited too much.
It took me a while to adjust in my head to my new lower betting patterns, I started out by winning say £30 on a good feature and just thinking that would have been £300 at £2 a spin, but these days I'm over that and it's about the entertainment more than the money.
To be honest, playing at these levels at VS has enhanced the value of the blue wheels, the freerolls and all the other achievements because the wins from them are comparable to stake and prize expectation for a 20p player. There is simply no motivation for a high stakes player in that regard.