For $80,000 per riding association? Why is there a limit? Because it's so many per vote. It's supposed to give equal opportunity for each of the registered parties, that they can spend the exact same amount of dollars per vote.
That's a wonderful theory. The problem is what happens if you don't have that kind of money. If you look at most elections, if you don't spend well past your cap, if you don't get a refund, you're not likely to get elected unless there's some wave. Years ago, the NDP were elected in the Ontario Legislature. There were people who had spent hardly any money, but there was this wave that went through and they all got elected.
If you don't spend a reasonable amount of money, you don't get elected, or it's extraordinarily tough. It's not impossible, but it's tough.