[HOH2] How far into NG+ have people gotten?

I'm curious how far people are able to get into the NG+ iterations! I'm playing a NG+4 Warlock currently and while I'm positive I can get to NG+5 I'm not sure if I'll progress beyond that.

Looking at how stats progress, it seems like theres approximately 100 armor penalty and 50 resistance penalty for each NG+ level. Since it only gets you 5 lvls/ilvls for each one, it seems like it's inevitable that this will outpace any ability to compensate, leading to a natural 'end' somewhere in the NG+6/7 range where these penalties just get too much. I'm I reading this correctly or are people able to progress beyond that through some other strategy?