I think the name for those people is hoarders.I’ve never understood the massive sets. Like you, I believe it is much more for the Internet points as opposed to “I MIGHT need this many in the next couple decades.” How many of those massive sets are still mint or unplayed? I feel bad for those that would like the chips to actually use, but won’t get a set because someone breaks out the ruler while showing them off.
In many cases it can be less expensive to purchase all the chips you could possibly need from the start.
That is what I do now as I know what I need to support my league for tournaments (3 tables) and like it if I can play different starting denoms and stack sizes. I realize some people hold 50+ player tournaments so therefore need a lot of chips.
For cash I don't know what the limit is. I don't normally host cash only nights but when I do it's for a single table and sets are sized for that (with a little extra top end to account for inflation). I mean, I can only sit at one table at a time, and I could always have a different set per table.
BUT at a certain point there has to be limits unless you are running a casino. When people post massive cash sets my first thought is usually "what a tool, that could be used by X many chippers" not "he's so cool".
Also don't get the concept of buying chips to show to a bunch of strangers online. Hey, I like to show off the sets I've put together, but buying to show them off is sad. I buy nice chips because they enhance my playing experience, life is short, and I can afford to.