Mashugana posted this picture to discuss the safety of riding on the bow but I hijacked his thread to talk about big wakes and horsepower limits:
A lot of those boats are underpowered and can't get fully on plane, especially when full of people. Some are semi-displacement and designed to run that way. Some just have unskilled operators.
I don't have an easy solution but in my opinion a HP limit makes it worse. Local boat dealers will buy the biggest boats with the smallest engines to squeak under the limit.