It's not limiting media bay in any way, it's just the number of search results shown when searching (a search for nothing aka show me everything is also a search), but the higher the value the less responsive it gets so there is a trade off.
So unless you use it to scroll to find your sounds instead of properly searching for it, then there is no need to view more than. 5000-10000 sounds in the window. Remember it's just how many files are displayed it has nothng to do with the database at all.
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