I'd say unlimited deletes of characters that have been made

discourage anyone from deleting/ recreating in a spammy way.

Your two statements in that single paragraph contradict each other, with no cap on deletion, nothing is going to cease someone from deleting and recreating. Having just a limit on the creation isn't going to make anyone stop deleting and recreation, they will just continue to delete to their hearts content to reach max cap for the day, and continue on. Having a cap set on deletions to 1 per 24 hours enforces people to choose their character profiles wisely. Otherwise, their time is otherwise, wasted as they are forced to wait the full 24 hours per deletion.