I don't know about other users, but personally I'm often asked to re-use previous content from one project to another (for example, we might add existing testimonials to a batch of new ones from their region for a presentation to a new group of program directors) and those clips have already been transcribed. But because they're being combined into another video, the whole newly compiled video will need to be transcribed too.
And not being able to import or even just copy and paste whole paragraphs from the previously independent clip's transcript into the new full length video's transcription slows things down significantly.
And it's not just relevant/limiting when correcting something previously transcribed because it happens with new transcripts too: I just ran into a situation where I couldn't correct a single whole sentence at once to add quotes around brief examples of statements the presenter offered.
Once upon a time the correctable limit was 40 characters and it was raised to 100, so this is obviously something that can be changed. Can you just do away with the limit all together or raise it to a useful character limit? In a real world comparison 100 characters isn't even half a tweet and that's still considered micro...