Did you write a blurb about your reasoning for no preference or just signaled no preference?
Not really a cap, but more of a way to sort through applications that truly are interested in your program vs the shotgun-applications. The early numbers don't indicate any fewer applications this year, so it doesn't seem to have reduced the number, but perhaps they are more specific now. Personally, I signaled regions where I had strong ties and, except like two programs, did not apply outside of those regions.
The limited tokens provided to applicants were supposed to narrow that down even more, but based on what I'm seeing on the various Reddit spreadsheets, it's about half and half so far.