This is slightly dangerous as a use case, I think.
Elasticsearch is generally fine with having lots of fields. Some features, like doc_values don't do well with sparse fields. If you disable doc_values on most fields (so no aggregation or sorting on them) then you are generally ok with sparse fields. But each field does have a non-trivial overhead. And adding new fields on the fly requests a cluster state update which can be time consuming. Having thousands of fields in an index doesn't tend to work well.
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