BlueStacks ships with a built-in macro recorder, and it solves one kind of problem well: repeating a short sequence, always the same, on a screen that does not change. Open a menu, confirm a collection, close. If that is the scenario, the recorder is enough.
The limit shows up because a recording observes nothing. It stores positions and intervals and plays them back in order. If a load takes longer, if a notice appears, if the list has one more item, the following taps happen anyway, in the wrong place, and the rest of the sequence goes with them.
Automating for real inside an emulator takes three things a recording does not have: checking state before acting, deciding between different paths, and sustaining that for hours across several instances at once.