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Depending on how up to date the data is, it could also mean that the big bulge of graduating PhD's caused by the increased funding is being absorbed quite nicely.
I think what we're seeing is that there's an equilibrium state of frustration that the system returns to regardless of its total size. And since those metrics of frustration (postdoc length, grant approval rate) are the justification for further increases in the total size, I think we can expect the grow->saturate->grow->saturate cycle to continue for a long time.