You never cared to test your theories, have you?^^
The wizard ability transfers the CP from the glyphs to the items converted. Everytime you convert an item, every glyph loses 10 CP. And guess what, when they hit 0 there is nothing to gain anymore. Your available CP stays exactly the same.
The point is about being able to keep the glyph without losing its conversion value.
It seems the vets only see what they want to see - it even is mentioned in the ingame description that the glyphs
donate their cp to other conversions. ;D
Clever devs
Also, I'm awesome for finding out about it!