Slightly different problem but also a problem. There are two different issues here. First is the absolute size of your follow list. If it exceeds the max event size of a relay then your full follow list will be rejected and you won’t be able to “update” your list anymore. It happens to people today on most relays between 1500-2000 follows.
The second is how your client queries for events from people you follow. In this case most clients tries to stuff all the pubkeys you in to one request filter from your relay(s). If the request filter is larger than X (relay operator chosen limit) the relay will simply close your REQ without responding and you won’t see any events.
Instead, clients will need to (some already do) split your follows up in to smaller chunks and send multiple requests. The second problem is considerably easier to solve than the first.