Well actually, I think it is a mixture of reasons.
I do believe it's so people will continue on with their normal lives, as well as making sure it still runs smoothly, AND also because it will let players get hooked with that short time given, and then they want a subscription- They get money.
Rating
Time Limits... by: Anonymous
Actually, they put a time limit up because when they have too many players on one server at a time, it makes the game slow. So they limit it in order for players to play in a fast paced world.