The bot has cool downs already and accounts for multiple votes (triggering only a single clip once the configured number of votes is received).
You are correct that the bot account then owns the clip, default title is the channel title and I’m limited to only 30 second clips by default. All that said, there seems to be a heavy interest in this and I hope Twitch considers broadening the rate limit and capabilities around Clip Creation. I haven’t reached the limit yet based on my observations, but I still have concerns in the future.