It started out that boat/boat allowed you to stay in FL, but many of the top players felt it was a bit too much and they changed it. Of course since they're the top players, what they say tends to carry a lot of weight and it has been that way since. I would say the generally accepted rule amongst pros is you don't stay with boat/boat but I would clarify anytime you play live with someone.

As for capping it, I think that's silly in general but I suppose it makes some sense in a live game where people can get hit realllly hard over a few hands and may not even have the $ on hand. Regardless, it's still pretty tough to stay 4+ times, even with the boat/boat qualification, so it's not a huge concern in your specific case.

I don't understand how you can be having a disagreement over the rules of a poker game. The rules are whatever you all agree to at the beginning. 

As for respecting the what the top players 'feel'. I think you must take into consideration that most of their feelings err towards what benefits them the most. Going to fantasy obviously reduces their 'pineapple edge' against new and recreational players. To think they changed that rule for any other reason is folly.

its all a big conspiracy huh apocalypse?