Yes, it absolutely makes sense. You never know when a typo in a config file or bug in your job-management code will go bonkers and try to take over all resources. Same think as disk quotas on computers with tons of users: you want to limit the damage that a user can accidentally (or not...) do.
Good quota systems saved my team's bacon way back when a few times, when fewer people were at the company; I can only imagine how useful they are at what, 10-20x the size?