More factions: more complexities, more wars, more struggles, more diplomacies, more cities = more fun. More faction limits: more mods, more flexibilities, more fun mods = more fun. So no.

And they really should just make everyone playable. It makes absolutely no sense to penalize the average gamer who doesn't go to forums and get that First Mod That Comes Out to unlock all the factions like, a day after the release. I mean, in Rome, they even block out freakin' Macedon! As if that nation is somehow not important to the history of the period. Yeah...