One correction here. Studio and Fusion actually allow up to eight (8) simultaneous "strips" but the software defaults to 4 unless you change the settings utilizing the "strip" button. However, a "strip" is not precisely the same as a track, as the "strips" can overlap significantly, resulting in more extended possibilities beyond what would be accomplished via 8 traditional tracks.

Effectively, you can do some production remixing with the software if you know what you are doing, but it is not designed for extensive compositional work, that is true.