Dear Riot: I, for one, dislike the Smite meta.
I think we're reaching that point where Smite is becoming a solid option for laning. 5.12 had Smite midlaners (Ezreal and Gangplank notably), earlier we had Smite toplaners (and still have!). Now with Devourer, we see Smite in the bot lane as well; thanks to Devourer it scales incredibly well, and thanks to Skirmisher's it's also a solid ADC pick-up for dealing true damage and winning trades. Of course, only goes with specific champions, but it's there.
And while we haven't seen many Supports with Smite yet, it feels like it's only a stone's throw away before Smite becomes viable in every lane as every role.
The short-hand fix is to limit Smite to one per team, but there are obvious problems for junglers. Why not just limit the hunter's machete and its upgrades to 1 per team?
I'm all for champion diversity and making many things viable in many ways. I just don't think a team where it's viable to bring 5 smites is very fun to fight against, especially if you hope to do Dragon or Baron at some point.