It was intentional, but as you pointed out, we realized that updating it for perspective and non-camera view is not convenient.
So we have modified that behaviour for the next update. Now Limit to Visibility is updated on viewport only when a Camera view is selected.
Anyway, we suggest to NOT enable on viewport for this feature, because it has noticeable impact of GPU performance. With each viewport change, FP objects must be rebuilt and updated in the GPU.
It's a better solution to enable it only for render, and limit the number of items on viewport using Display->Viewport->Max.Items. That keeps the GPU state unchanged and redrawing is much more faster.