The -logsmaxsize option defines the max size of all log files, not a single file, so 200 MB should be adequate if you want to keep a history for the last few weeks (or months). We don't have a limit of the size of a single logfile but it may be added in the future.
Strange solution. Never seen that. For example in java there is RollingFileAppender (
https://logging.apache.org/log4j/1.2/apidocs/org/apache/log4j/RollingFileAppender.html) which creates new log file when current file has reached limit size. I waited to have the same functionality, and I think that not only me. If the current behaviour is like you have described, then can you please to use parameter 0 as recomendation do not delete logs (so limit is absent).