It may be that shema object privileges refers to user objects rather than system objects such as the catalog.
To research the system privilege count, I ran:
select count(distinct privilege) from dba_sys_privs;
115 rows selected.
I ran this query against a fairly new installation of Personal Oracle 8.1.6 on Win98 (I'm at home). I'm sure the answer is different depending upon the version # and Edition.
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