I could understand a system that eventually cuts off if you try to type whole paragraphs, but we’re talking about a limit of 50 characters.
It’s severely hampering to team communication and even casual pre-game chat in the lobby. However, my rudimentary knowledge of videogame production tells me it’s far from a hard fix, possibly even an overnight one. I presume it’s simply a matter of changing a variable in some script that sets this limit. Ergo, I can think of no reason not to address this sooner rather than later.
Thanks to Hideki for exact character limit.