Yes, it's true: you'd've be limited to just 64KiB per individual record or array. BUT, perhaps by the time 1995 rolled around in this alternative universe, CS, DS, ES, SS, FS, and GS would probably have been made 32-bits wide. PERHAPS, even, be made into pointers to page table roots, as segment registers were under MULTICS computers.
Goddamnit, C, why'd you go and fucking ruin it for everyone? >:(