I have a FREE license, yet I get the error "Your Splunk license expired or you have exceeded your license limit too many times". It appears you're trying to ensure that temporary bursts over the limit are still processed, but this just means that I lose search access entirely after a few days, which is worse (then I need a silly thing called a "reset license"!).
How about an alternative FREE license which strictly enforces the limit, but never ever denies you access to searching your data? This is far more "common sense".
I would argue that enforcing the license in the way you suggest is not common sense. It just happens to be better suited to your specific individual current situation.
If you use Splunk for indexing, searching and acting on data that is of relevance to you (which is the whole point of it), it'd be far worse if it just started dropping this relevant data as soon as the license limit is hit. Instead when you surpass the 500MB license cap Splunk keeps on gathering the data just as usual so you're still able to search it and then gives you not one, not two, but THREE warnings for each day you violate the license, before finally shutting down search capabilities. Even then it's still gathering data.
If you're constantly indexing more than 500MB of data per day, then the free 500MB license isn't for you.
It's common sense to ME, as a user of the software. If I have more than the 500 MB/day of data, then just don't index it. Please don't just shut down and make it impossible for me to access my data at all! I don't access it often, I don't SEE those warnings. But when I do, it's a crisis, and IT MUST WORK as expected.