On-site privileges tied to reputation currently max out at 35k, because that's when you get 30 delete votes per day, the maximum (see the moderator tools privilege page). At 100k you're put on the waiting list for swag. Beyond that, you merely have the knowledge that you could create 200+ bounties with the largest amount of reputation (500), or 2,000+ at the lowest amount (50). You might also get gold tag badges which allow you to single-handedly close questions with that tag as duplicates. (However, it's possible to unlock these without having all the other privileges — I'm speaking as a proud gold tag badge holder with only 5k rep.)
With new features, privileges have been given at existing privilege levels, otherwise too few people would be able to access them. SO Documentation (RIP) was the first example I remember, which had 3 new, separate privileges. The Staging Ground is planned as part of the review queues privilege, unlocked at 500 rep (though it's not clear if this will be part of the existing privilege or a new one).
Sometimes new features take away from privileges instead: Having an expanded user card used to be a part of the 1k privilege and now it's available to everyone who has an About Me. Moderator Tools is essentially another example, since now it's not necessary to have that to see all your deleted posts (which was an absolutely essential change — the privilege still gives a lot, including a nicer way to see a list of your deleted posts).