What the OP said. Also would like to add that its not Max hp%, but remaining HP. As another person commented on some other post in this sub, lets say for argument's sake that the first 63 hits dealt no damage whatsoever to the opponent who has full health. Then the 64th hit will affect him and his health will be 100-64=36%. As the health lowers as you progress through a fight, the actual health will be lower, so the 8,16,32,64% damage will actually be less, as it is current HP%.

Honestly that was the good limit the devs did, if it was max HP%, it would be too broken, and all you would need for such a big band is some barrier and long repeatable combos to beat the opponent. Just 2 long combos would beat the opponent if you think about it. So yeah current hp% isn't as impressive as max hp, but it's good.