No, no reason, other than botched Operating System design and drivers, which won't address more than 2^32 sectors.
ATA-6/SATA both use 48bit sector addressing (aka LBA48) allowing up to 2^48 addressable sectors. With 512byte sectors that's 2^57 bytes (or 128 Petabytes) addressable. With 4K sectors it raises that limit to 2^60 bytes (or 1024 Petabytes) addressable, which is very nice for scientific and high performance computing... Mind you, SCSI and SAS now use 64bit sector addressing allowing up to 8388608 Petabyte arrays.
I can understand the change since most OS filesystems now use 4K cluster sizes by default, so making 1 sector = 1 cluster is nice to have... (Some filesystems still use 1K clusters by default, but that can easily be changed during the 'newfs' or 'mkfs' process via a command switch).
but back to the original question, no it doesn't.