As of 2024-04, new GraphQL product APIs are now available in stable release.
These new APIs increase per-product variant support from our historical max of 100 to a new limit of 2048.
This is a companion discussion topic for the original entry at https://shopify.dev/changelog/new-graphql-product-apis-that-support-up-to-2000-variants-now-available-in-2024-04