Why one formula in 500 cells kills the quota
Google Apps Script enforces a hard concurrency cap of roughly 30 simultaneous script executions per Google account. When you write a custom function and fill it down a column, Sheets doesn't batch those calls — it queues each cell as a separate execution. Fill it down 500 rows during a spreadsheet open or recalc, and you will hit that cap almost immediately. The cells that can't get a slot show the 'Loading...' spinner indefinitely, then surface the 'too many scripts running simultaneously' error.
The quota is per-account, not per-spreadsheet. If you have two sheets open that both use the same custom function heavily, they share the same 30-slot ceiling. The error is not a temporary glitch you can wait out — the cells will keep retrying and keep colliding until the recalc cycle exhausts itself.