I played a game against a buddy recently where we had more than the 2 flotillas and it was TERRIBLE. The activations issue came back, the boringness of the fleets, all of it. I'm happy with the nerf as it is.
Relatedly, if the cap was lifted and you could bring 3+ flotillas, Rieekan 2+3 comes back, and I don't need more of that. The cap forces NEW choices in fleets and doesn't just let squadron fleets win all the everything. Because then all I do is take Yavaris, 4 GRs, Rieekan on Jaina's Light, 134 points of squadrons, and guess who sits in the corner all game now? BEST case, you take out Yavaris and all 4 GRs, and then I still have 217 points left. Great game!