The problem here is that the upper limit shouldn't be dictated by the developer from any other standpoint than a technical one.
Lets examine the "unfair advantage" argument here. A ranged raid leader who still has a good overlook of things after this change will have an unfair advantage over the melee raid leader who now struggle to get a good overlook. The player who don't want to risk he's account by hacking the game will be at a disadvantage compared to the once that don't care. And in general, some players are more comfortable being more zoomed in while other are comfortable with a wide zoom and as long as both are comfortable I'd say no one has a disadvantage. This change forces some players to be uncomfortable which in it self means they are at a disadvantage.
Now what I think happened is that Blizzard did their new camera changes and simply screwed up and removed the old command and as such made up a poor excuse as to why it was removed. But hey that's just me. Either way it's a horrible change defended by a asinine argument that just doesn't hold true.
If they wanted to solve the "unfairness" all they had to do was remove the command and make the settings slider cover the same range...