Looking at all the info we have now I can't see this awakening system doing anything good for the game as is. I mean I have never once seen anyone complain about the level cap on girls being tied to our MC level, and in fact I can't even think of a reason to complain about that- it is a perfectly fair way to set it. So making upgrading past the nearest multiple of 50 levels take huge amounts of some new resource? It seems like a combination of a hard nerf, and the kind of price creep you see slip into free to play games that try to pretend they aren't pay to win all the time. Frankly this seems like it won't have any positives at all, save for the girls level cap being raised to 750, which I suppose could be loosely considered a positive.
Now that said I'm going to do something I have yet to see anyone else in this thread do- offer a fix to the problem beyond completely scrapping this new mechanic:
Instead of having awakening raise the level cap of a girl, have it be it's own method of upgrading. Something more like a 2nd affections system. Every 50 levels in a girl you can awaken her to give extra stats, and possibly extra cash from collecting. You wouldn't even need to change any of the secondary requirements for the system, just decouple awakening from the level cap and give it some stat boosts every time you chose to awaken a girl.