Yes, it’s a thing. I forget what the limit is within a 24 hour period, but it starts to replenish, bit by bit. It was increased a while back, but a thread like this is going to rip through your allocation.
I currently have a bass with an MM pickup with s/p/s switching and previously has a shorty ‘Ray with the same switching. Series is so much more than the other options, I never gigged them in the other options. I owned an original run US SUB, which I’m led to believe were wired series as standard (I may have been misled of course) and that was a monster too.
That 1K looks fab.