It seems there is a cap to the number of parameters I can “map”, Whenever I reach a certain point in amount of mapping, the map button becomes greyed out.
Is there really a hard reason for this? Or is it an arbitrary lock?
Yes, at the moment up to 511 pipe parameters can be mapped. The reason for such limits is the limited amount of memory available in the hardware to perform every function the device has. Some of the unused memory is reserved for future features too. 
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