He was saying 300 swords for one character, not spaced out in classes/alignment etc. You'd end up with 300 swords for your samurai character guy alone, and if you had that weapon, you can equip it. His numbers show a total 653 weapons..

It's another thing to have 100 weapons, but each character can only equip 25 of the total, and only 15 if they're good or evil (assuming 5 "neutral" weapons that anyone can equip, and 10 of each alignment). THAT allows for each new upgrade to actually mean something, not "oh boy I can do 1 more damage to that cave bat now!"