One last thing. They did and didn't remove the 5K file limit in 2016:

Quote:
Removed 5,000 View Threshold – sort of

A Document Library can have 30,000,000 documents, that’s never been an issue. However, many of you know that 5,000 seems to be the actual limit for many end users that don't know they had to index their columns.

I'll spare you the details, but the 5,000 view threshold is actually necessary, or your entire SharePoint would be slowed down. It prevents SQL from locking the entire database, really.

Instead of removing this unpopular threshold, they automated the creation of Indexed Columns. This means that, technically, the limit is still there, but you won’t have to worry about it.
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Matt