I’m reading a theorem that says that a limit for an arbitrary set-valued functor always exists. It also say how to find it.
I will now illustrate a sample application of the theorem.
Given the following indexing category $I$
We would like to know what is the limit of the functor $X:I\to\mathbf{Set}$ here illustrated
Now, according to the theorem the limit would be isomorphic to a set of three elements, specifically $\operatorname{lim}_I X=\{(a_1,b_1),(a_2,b_1),(a_3,b_2)\}$.
To me it seems that the real limit is just any singleton with two functions to $A$ and $B$. This is because you can definitely find a mapping from the alleged “limit” to my limit, for example see the following
So i created some mock functions that don’t even touch $a_1$ and $a_2$. This way I can create a fine mapping from the supposed limit to my singleton in the slice category over $X$.
This theorem is very confusing and I don’t even understand why there is no distinction between the category of sets and the slice category over $X$. Is it possible that the limit is just a set? Shouldn’t it be a functor?



In any category, $\mathcal C$, the limit any diagram, $D:\mathbb I \to \mathcal C$ of shape $\mathbb I = \boxed{1\to 2}$ exists and its object part, i.e. the apex of the cone, is $D(1)$ up to isomorphism and the projection from that to $D(1)$ is $id$ which forces the projection from $D(1)$ to $D(2)$.
In other words, the limit in your example is $A$ up to isomorphism and indeed $\{(a_1,b_1),(a_2,b_1),(a_3,b_2)\}\cong A$.
Using a singleton doesn't work as a limit. While it (trivially) satisfies the uniqueness condition of the universal property describing limits, it does not satisfy the existence condition. The universal property of this limit is: $(L,p:L\to A)$ is a limit for $X$ iff for every $T$ and $f:T\to A$ there exists a unique $\bar f:T \to L$ such that $p\circ \bar f = f$. (There's no mention of $B$ or the map from $A\to B$, call it $h$, because once we have a map $f:T\to A$, we automatically have a map $h\circ f:T\to B$. Naively written, the universal property would also require a $q:L\to B$ but it would also require $q=p\circ h$. Similarly it would require a $g:T\to B$ in addition to $f$, but it would require $g=f\circ h$, so all the information is already held in the map to $A$.) To prove my earlier statement, clearly choosing $L=A$, $p=id_A$, and $\bar f =f$ satisfies the universal property. If, however, we choose $L=\{*\}$ and $p(*)=a_3$, then picking $T=\{*\}$ and $f(*)=a_1$ (or $a_2$), there is no $\bar f$ such that $p\circ\bar f = f$ since, for this $p$, $p\circ \bar f = p\neq f$.