It makes sense to have a electoral threshold for national political parties to achieve before in order to be entitled to representation in the legislature. The idea is that it prevents fragmentation of political parties, and having dozens of parties with just one seat. Many countries have this threshold Germany(5%), Italy(4%), Sweden(4%), Turkey (7%).
In the Somaliland context the reason why number of parties have limited to 3 was to prevent fragmentation of having political parties along sub-clans and to force parties to seek broader support among constituencies. The 3 political parties need to get minimum of 20% votes(threshold) in atleast 4 of the 6 regions.
The background of this lies in the 1960s, when dozens of sub-clan parties would emerge creating on local and sub-clan level a very polarised environment. And this is the risk that Puntland faces with the 8 parties, that each party might be become fully associated with a sub-clan and get only votes from single clan constituencies, leading to a fractures political dynamics.
This could be mitigated, by the 8 parties perhaps eventually forming two political alliances as per example of Kenya, Italy. Not sure how these alliances would be governed and decision making organized, outside of the formal constitution.
But much needs to be thought through and each step needs to be headed by a process of open consultation with all stakeholders, as process and pathways is quite risky.