You'll only need to do the procedure every time you update the bootloader (which is a pretty rare event).
It does look like there is a 16-device limit per VM with passthrough. This is only passing through a single device, though: The LSI controller. ESXi isn't managing the individual hard drives, and has no knowledge they even exist once the LSI card is passthrough-enabled. You would need some pretty esoteric hardware to even have 16 PCIe devices available for passthrough.