Your argument sounds a lot like "64k should be enough to anyone"; I guess we'll only need more and more processing power (and processes aren't necessarily applications, as in the case of Chrome -and you could also be using threads for that matter-, so your argument doesn't follow anyway).
While I currently only have about twelve tabs open, in the past I have gone above 100. I tend to use tabs to store things I will look at in the recent future, and also as a way to follow threaded comments, or links within articles.
It isn't an argument about the technology, rather about what humans will be able to manage.