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I guess they want to force you to spend it on shit you don't need so when you need it you have to grind everything again. Thus keeping you repeating the same crap over and over again even if you shouldn't or had reasons to. It's like one of those free mobile games, except it isn't free and was done on 500 mi budget.
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Edited by DeusFever: 10/23/2014 6:49:24 PMGlimmer is one of many things Bungie did not think through when they made Destiny. Currently, in-game currency consists of glimmer, Vanguard Marks, Crucible Marks, Strange Coins, and Motes of Light. That's 5 different types of currency. I know that at least 3 of these have a cap. And we wouldn't hit the glimmer cap if there were worthwhile things to buy with glimmer. (I spend my extra glimmer on engrams to rank up with the Cryptarch in hope of receiving an actually legendary from his legendary mail package).
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Like the rest of the ball-sucking part of the game: because they can. And if you want an answer that's more specific, I won't be surprised if Bungie just flip you the finger and says: "F*ck you, that's why!"
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They put a cap on it, like putting caps of rank points is to slow player progress.