I don't know if this is possible with how the game is programmed but I was thinking that having a second account(linked to the main/shared zen,unlocked costumes, etc.) be created when someone hits the character limit might be helpful for any tech reasons there might be for having a limit. The second account would have to have the same name(maybe add "_alt" at the end), password, and share the same zen to prevent people from possibly reaching the cap then selling the second account to someone else, especially if it has a LTS.
This way people over the current limit can still create new characters without having to repurchase costumes or powers. It could automatically a new account every time you hit 50 characters. If someone has 199 characters now, they would then have 4 accounts: username(existing account name), username_alt, username_alt2, username_alt3.
The extra accounts would have to be created by the game and not the player to avoid abuse such as creating a bunch of accounts to take advantage of the free character slots and then linking them.
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Epic Stronghold
Block timing explained
Ah, pardon me then. It's the multiple players I'm thinking of.