There is no hard published limit by Meraki, but performance and manageability can degrade with a large number of rules.
In practice, hundreds of rules can be configured, but Meraki recommends keeping the rule set as lean as possible for optimal performance and easier troubleshooting.
Not to mention that I've personally experienced a few cases where, when working with templates, the settings took a long time to be replicated to the MX records within the template.
I am not a Cisco Meraki employee. My suggestions are based on documentation of Meraki best practices and day-to-day experience.
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