According to a leak by TheGamingRevolution, MW is scrapping the prestige system - once you reach the level 55 cap, seasonal ranks kick in instead with a separate level system and challenges. You will also apparently retain all unlocked weapons but these themselves have 80 levels to sift through. I'm guessing it'll take a couple of weeks to max rank and then we'll get milked with a battle pass formatted system.
If this is all true, IW are going to look red faced and they said he was 'ill informed' about everything despite his track record of insider intel!