Yeah, when summed the noise from from two different fully uncorrelated sources (from different ADCs, different mic capsules, multiple arrivals of diffuse reverberant sound in a boundary mounted mic) increases in level by +3db, while fully correlated signals (shared identical content, direct arriving sound) increases by +6dB, for a net improvement of +3dB. If not fully correlated/decorrelated the net difference will be less than 3dB. Would seem the practical limitation is that the reduction in noise is linear (-3dB, -6dB, -9dB) while the device count increases geometrically (2, 4, 8, 16..), but I imagine there is a real-world limit of how far you can practically take it.. probably follows an asymptotic curve.
I've seen some DIY mic builds that use multiple omni capsules tightly grouped together and summed to improve noise performance over that of a single one, performing essentially like a single diaphragm of the same diameter.. Not sure how well it works or if such an arrangement introduces more problems than it solves or not.
Taking it several steps further.. combination of multiple non-coincident sensors arranged in a specific array, along with the output being summed in more complex ways that includes phase and level manipulation is the basis of "beamforming" in radar, sonar, and optics.