In an ideal world that might be true, however, in our world currently there's no such thing as "your quota of spectrum"; wireless spectrum is a shared resource but people are allowed to hog it. FCC does not prescribe that the spectrum usage should be shared equally or equitably; within the allowed limits and without intentional harm (e.g. deauthers) you're each allowed to try and use as much as you can. The person running 120 or 200 or 1000 devices is entitled to assert that they don't, in fact, owe anything to their neighbours - on the other hand, they would be entitled to protection and FCC intervention if the neighbours attempt to deauth their devices as suggested in other comments. You're welcome to try and hog the shared resource yourself, but preventing others from hogging a lot of the shared resource is illegal.

Sure, there are scarce resources; and what we're seeing is the expected results of the tragedy of commons for a shared resource.