Here and Now/Fallout: New Vegas
Here and Now
Instantly levels the player character up. The perk is essentially useless, as experience is never in short supply and picking this perk robs the player of a valuable perk slot. After all, the point of levels is to get perks. Getting a perk to gain levels is the definition of waste.
If the player wants to waste their perk, they can't take it at the level cap.