AWS most definitely has service limits that apply to all products including ec2 for this exact (and other abusive) reasons. In fact, the aws limits are even more convoluted and can hit at random if not tracked. More details here: https://aws.amazon.com/ec2/faqs/#How_many_instances_can_I_ru...
Yeah, as I was building out some apps over the past year it was a game of ‘which account limit will I hit next’. Most of them require a support ticket to be raised, and justification.