I can see many way where you can only follow (and be followed) by 1000 people would be better in many way. An audience of 1000 isn't monetizable so the network wouldn't be poisoned by ads ("sponsored content" AKA "sponcon").
> Path was a social networking-enabled photo sharing and messaging service for mobile devices that was launched on 14 November 2010. The service allowed users to share up to a total of 50 contacts with their close friends and family.
