[mypalmike]

Except your service is almost certainly listening on one non-ephemeral port.

But having "only" tens of thousands of connections per client is rarely a problem in practice, apart from some load testing scenarios (such as the experiment here, where they opened a number of ports so they could test a large number of connections with a single client machine).

[charcircuit]

1 IP can correspond to multiple different clients.

[mypalmike]

With NAT, right. I guess there may be situations where client ports for a single server IP dry up due to NAT, but I've not encountered that issue.