It can be done quite easily but as I said, there would be no one who can be confident whether it will work smoothly or not. There is a mod which gives +90CP trait for custom faction (https://steamcommunity.com/sharedfiles/filedetails/?id=1438072288) but proceed with caution.

+

there was a case 198CP battle happened but it did not support watching the battle. calculated result only.

That there is a CP limit to watch battles is good to know. Then if we make a mod the max roof should perhaps be somewhere around 50-100 command points.

You said it was easy to mod, do you know where to mod it? Another trait modification would perhaps be redundant since there are so many. I would like to try something new. Editing either the base value or the tech values, or perhaps both. That would allow players to just start the game without editing any of the core factions.
Does anyone know where to find those command point values? (Not trait command point values)

Hello again, some 2 years later. Another question...

How do I get to the file I need to edit?

SimulationDescriptors[EmpireImprovements].xml

Where is it?

EDIT: I found it, but I can't make sense of it. May need to proceed with trail and error.