Yes, I think it's 1080 which is a mad number. I often have to go back and have a cull on people I've followed which is a shame but maybe it keeps things fresh. I sometimes go way back and check someone's shop and see if they have been active recently and stop following them. If I still really like bits of theirs I can fave their shop or an item so i am still in the loop with them.
Sometimes I won't unfollow someone if they only have a few following them but still seem really keen. And sometimes I will unfollow someone if they have loads as I think they won't notice and be upset....It's not scientific but I can't see any other way if you want to stay in touch with new shops!! :)