7000 is crazy low.
To check this I recorded one bar of music with 1/4 note chords, a mod wheel sweep, and a bit of pitch bend into my old sequencer, and then went into list edit and counted the number of events. It was over 150.
7000 / 150 = 47 bars before memory would run out. That’s 47 bars divided between all the tracks in the project!
Granted, the mod wheel sweep was like 75% of that. But take that out (no mod sweeps, ever) and you’re still only up to 200 or so bars of music, or 400 seconds / 60 = 6.7 minutes at 120 BPM, divided between up to 64 tracks.
Memory is cheap (we’re talking about kilobytes here - a midi note event is 3 bytes long), so I cannot understand why Squarp did this.
(And, every MIDI sequencer going back to the MMT-8, which is 30 years old now, had more memory than this).