It doesnt have a limited speed, thats just the limit of speed itself. The less massive something is, the faster it can go. If you take all of the something out of it, whatever it is, it goes as fast as fast can go.
We dont know why that speed is the max speed. We do know that the faster you move through space, the slower you move through time. So when you go at 100% speed you go at 0% time. If the photon could experience, it would be experiencing the entirity of the universe in a moment.
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