I'm 100% in favor of a one-time transfer, but it gets a bit crazy after one from a fan perspective.
The limit is set by the NCAA, not the college itself. An accounting major can freely move around to different schools and take all the accounting jobs they want. There is no restrictions set on them by a governing body.
The NCAA is trying to create fair play for everyone by having a set of rules that everyone(?) has to follow. The P6 could create their own governing body, but who knows if that would be any better for the athletes. It would be born out of greed and self-preservation. The NCAA is nearing and end, which is great, because it has outlived it's purpose and has shown no real consistency in upholding the rules it has set forth.