Electrolysis will initially only have two processes: one for chrome (i.e. UI) and one for web content. More content processes may be used in the future, but we will move very slowly and carefully in that direction. I consider the several-hundred-tabs-open use case to be an important one, and will do my best to ensure it continues to work in the future.
I personally think the number of browser processes shouldn't exceed the number of tabs because you won't get any responsiveness improvements beyond that, and it'll keep the memory usage reasonably low.