No. Currently, there is a limit of “No more than 500 submissions to each problem” which is restricted to 200 for challenge. 500 submissions, would actually take a good deal of time. I never crossed 130 in worst case.
What we are proposing, we will limit it like, you cannot submit more than, say, 10 submissions in 20 minutes, or something like that (numbers are not the ones we use/will use). That guy, who I quoted, used rand() function and submitted 60 submissions back to back which caused the queue. We dont want that