Fair enough - the reason for the change was that shorter names sell better. Longer names sell fewer or not at all. Also the longer the description, the more sales. If they are shorter, they don't sell. So both changes are meant to help sellers sell more based upon our historical data.
What is the product name you are referring to? Chances are the longer description should be in the 140 character description - not the title. The product name should be short and simple - like AirPi or Tapster.
For descriptions, 500 characters is honestly not a lot. If you say what it is, how it can be used, and what is included, 500 characters should be a piece of cake.
At the end of the day, if we see a product listing and its super short, and we know it won't sell, we aren't doing you or the community any benefits by letting it go up on the site. These were changes meant to help sellers. As we've rolled the changes like these ones out, sales have gone up. So it appears customers agree. The better the overall community looks, the more referrals we get, and thus the more sales.