Hi jcit,
I also like the idea of increasing the limit.
We're unable to import more than 1000 product and service items at the moment. Please check this article for reference: Import Products and Services.
This will be of big help to companies that will import more than a thousand items though. I'd encourage to suggest this to our product engineers. You can click on the Gear icon and choose Feedback. I'll do the same thing here on my test account.
Feedback makes us aware of the things you need to make QuickBooks more suitable for your business needs.
I'm inviting you to post here again when you have questions in the future.