I don't care if it's EQ1, or EQ2, or WoW or CoH or whatever.
A limit of 4 characters across all servers is idiotic. Hell, a limit of 4 characters per server sounds pretty stupid to me as well (except in special cases like some of the old EQ PvP servers).
I am not sure how many characters I played in EQ on and off, it was far far more than 4.
That does not count mules.
SoE has a certain... history of moronic moves - this just seems to be more of the same old bullshit.