I played it at gamescom last year. It was fun, but even in that short amount of time, some things started to feel a bit repetitive and I didn't like a few smaller design decisions.
That being said, I'll probably still buy it if the price is reasonable for what it is. And who knows, maybe they even polished out some of the gripes I had with it.
I think the upper limits are mostly there for two reasons. To give the students a rough idea of what's expected in scope and also to protect the person from having to grade a 100 page thesis when they planned to grade a short essay.
That being said, there were a few times where they enforced strict page limits for us, but in those cases they would warn us about it explicitly multiple times.