The phrase means there is no limit to what something or someone can achieve. 从字面释义的“天空才是界限”引申开来表示没有止境,没有界限。
Examples:
With several successful projects, it seems like the sky’s the limit for her in this company.几个成功项目在手,她在这家公司前途无可限量。
I was asked how many articles I would write and I said the sky's the limit — in other words as many as possible. 当我被问起我能写多少文章时,我的回答是没有限度——也就是说,能写多少就写多少。
Buy anything you want—the sky’s the limit.买你所想的,不用在乎钱了。