If you want to keep 10 alternatives for 340 toons across 6 different mods, and there are 8 different mod types, that makes: 6 × 10 = 60 × 8 = 480 mods.
That would be under the ideal conditions where you have the perfect number of perfect mods for every mod specification. But that’s a pipe dream.
With changing DC sets, teams and characters are constantly prioritising different attributes, for which you then need to have the right mods in stock.
As long as we only had 100 or 200 characters, the mod limit of 500 wasn’t a problem for anyone who kept things organised.
But with 340 characters, that’s slowly becoming unworkable.