Yes, the time consumed by instant replay should be limited in baseball, to make sure that coaches do not use the instant replay function to delay the game. It would also ensure that the game keeps moving so that the fans stay interested. Like in football, there shoud be a limit to the number of reviews each side can request.
Instant replay in sports should be limited to viewing just two times. Otherwise it does take up a lot of time and often can become quite redundant. With social media outlets like YouTube, Facebook, and Twitter most sports fans will get their instant replay fix by other means and usually even hours to days after the event.