I would personally tend to agree but then you get into the problem of too many buffs. You could, for example, wear ten or twenty rings, a similar amount of things around your neck, dozens of pins attached to your clothing as well as having magical armor and weapons. It is fairly standard in games to limit such things. Of course if they wanted to allow this they would probably also start adding complicating factors so that items would conflict with each other -- a buff of one magic way would entail a debuff in the opposed way, a strength buff might make you dumber, you see this quite often with the named weapons.
Anyway you get the idea.
