We're pretty similar in a lot of ways. It's definitely a pain point, but from a UX perspective its tough to solve. In theory you could manage a lot of things with the API (most of our UI runs off the API these days).

Even with the limitations, we have many people with hundreds of projects, and the general problems we see are more around notification settings than anything else. The usual suspect is that people are getting too many emails when they either want none, or they want digests.

We are giving this a lot of thought as part of our upcoming infrastructure pass. From my point of view it'd make a lot of sense if you could just have a massive stream of events and sort through them however you want. That causes a lot of challenges so it may not be feasible.

Either way its a problem we're aware of and looking to address. The simplest solution from our point of view is to allow you to configure some kind of organization-wide defaults. That won't resolve the API key constraints, but we don't feel that specifically is a pain point.