Also, the technical limitations preventing them from just boosting it up to 1000 or whatever, still exist. Old gen consoles still limit what they can do.
Don't think that because they are upgrading the space that those limitations are gone.
They have moved each of the 3 types of items onto their own pages, so that each page can have 74 items on it. Right now the vault has about 80 items total on the screen at one time.
So you see, this is just a work around, not a permanent fix. It won't be fixed permanently until they let go of old gen consoles, which won't happen until destiny 2.
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I don't see why if they load tabs separately, they couldn't also load their pages separately. Then we could have more than 72. It could be infinite at that point. Thus, technical limitation is BS now that they're fully redesigned it. They had the chance to make it as much as they wanted. They don't want us to be keeping more stuff.