If you were a bit more careful reader, you’d have noticed, that the quote applies to “Paragon 1.0”, a system that has been superseded by “Paragon 2.0”, which is currently in use. And this is the quote you would be interested in:
Players now earn one Paragon point each time they level up after reaching max level. These points can then be spent to boost up various stats in four different categories: Core Stats, Offensive, Defensive, and Utility.
So, this season (29), the paragons are not limited per se, but the limit is put on the Paragon points you can assign.