I took a quick look at this… and from my understanding
the issue is a simple one , and it’s ‘by design’
so really, we have to accept this is a ‘heavy module’… kind of one instance thing 
there are 2 aspects of PLY we need to understand.
a) PLY has to render all the time, not just when UI is shown
most modules only render their UI when the module’s UI is shown. this means it doesn’t matter how many modules you have, the UI load is constant ( = 1 module)
however, this is not true for PLY.
the audio waveform is derived from the 3d graphic model - so the model has to be rendered continually to generate the audio waveform. therefore we end up with a constant GPU load.
this is why we see PLY affecting UI performance even when it is not being ‘shown’.
b) PLY is using a lot of GPU resources
the 3d shader we are using is pretty intensive, so it’s using a lot of GPU resources.
so, whilst it not hitting the cpu hard, we are likely limited to one as we are ‘bound’ by the GPU.
interestingly, theoretically, we could use different shaders - so perhaps less expensive shader ‘programs’ might allow more instances of the module.
but with current shader we are limited to I think one, and it may introduce a small amount latency.
anyway, thats just my take, Ive also talked (briefly) with Bert, and I think this is also his view.
not saying there aren’t any optimisations that could be done, but I doubt it’ll change this really. (imo)
tl;dr;
I think really we can only expect to run one PLY, and it may have some small impacts on UI performance, but you get a lot from that one module. If we can get it to load alternative shaders, that’ll be even more interesting 
this is specific to PLY … not a ‘limitation’ of the GPU usage!
usually UIs do NOT derive audio from their graphics, so usually we only render ONE module at a time, so you can get away with quite heavy GPU loads, since the loads done not build up with more instances.
e.g. if you look at the ENV module, its using GPU (as are all factory modules), and you can see it doesn’t matter how many ENV modules you have.
so this is just a side effect of creating a module whose audio is derived from graphics model.