Just for clarity, the default is 3 consecutive replies for max consecutive replies:
As you can see from the description, topic owners, admin, mods and category moderators are already exempt, so this would be mainly for TL4s.
It is interesting that the small action posts have been counted for that as well though. It might be worth not including those in the count as they generally perform a separate function than the one the setting is targeting. 
Though a TL4 should be trusted enough not to be limited by that behavioural nudge as well, so I can see an argument for removing that rate-limit from them too.