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For the purposes of getting a pretty picture there is a limit and its entirely subjective. If you dont see an improvement you've reached your limit. It will differ widely for everybody so any "rules" you see are just ballpark guidelines that should get you to an ok picture. If your processing skills are lacking you reach your limit fast, if you think a final image is what you get in camera you are way below what your limit should be. Processing is king.
For the purposes of taking scientific measurements there's almost no limit. The more data you collect the more precise and certain results can get. But plotted your values curve towards the precise value but won't ever reach it as no equipment is free of noise and the noise threshold is the true signal limit to contend with. You can only supress noise with more data and better processing techniques, never exterminate it. Its called noise Reduction for a reason.
Google for "law of diminishing returns".
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