I believe this is the reasoning behind the limit:
And looking at your reasons for wanting to increase it, it seems it’s also a good way to prevent admins from doing a similar thing. 
The 100 limit is fairly arbitrary, though I think there is some scope to maybe amend this in the future. However, I’ll close this #feature request off to give the space to someone who can come up with, let’s say, ‘more legitimate’ reasons…