I think records such as this are affected by human endurance - just as we won't likely see a coaster that does 300mph, we probably won't see a coaster that does 15+ inversions unless it has a break somewhere in the middle. Parks aren't going to rush to get a vomit-enducing rides, which is what I think The Smiler would be if there was no time to catch your breath.
I think it's unfair on the ride to suggest it's perhaps 'cheating' by having two lift hills and claiming the inversion record. Taking the restrictions Alton have, they've done a superb job in the space they had and The Smiler is probably the third best ride in the park now (Behind Nemesis and Oblivion for me). I've been on a lot of multi loopers and I've never felt quite as dizzy as I did when I hit the MCBR on The Smiler - the breather was actually a welcomed break in what is a pretty relentless ride. This may have been a conscious decision, but it probably wasn't. We all know the issues