I'm personally glad they'd be implementing something like this and wish they had done it about a month ago. Eventually without any controls the site would have become a waste land. In the spirit of using it as the tool it has become, they needed to implement changes like this as the site scaled up to more and more people. It's very similar to the changes they instituted in the fall of 2008 when they created a cap of being able to follow more than 2000 people when your own number of followers wasn't commensurate with that number. As a game theorist, I'm sure that people will somehow find some other way to artificially game the system.
As a separate note, who really wants to waste the time building thousands and thousands of followers when none of them are really going to ever pay attention to you? Yes, it 's great to have a high number, but really what is your ultimate reach? How many people are you engaging?