@Grant *******
No. I think you misunderstood. There is no more explicit limit, but after a few entries, immigration can ask you what you're doing in the country.
Now, if you were to come and go regularly but spend only like a week in the country on each visit, spending MORE time outside Thailand than in, you'll likely be granted entry without questioning or incident.
The problem is, way too many foreigners are spending most of their time in Thailand on visa-exempt entries and then expect to be allowed to re-enter without trouble, almost as if they had a "right" to come back in. This is not so. Don't abuse the privilege.