someone at google will have to answer about the limits you ask; meanwhile, each person does have their own default calendar, and can include your shared calendar (which you would be managing);so they see both on their calendar page. if they need only see and not change the shared calendar you need only set "see all event details" share attribute; thus you only need to manage one calendar, why would you want to change that paradigm to wanting to manage thousands of calendars?
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