The current planet count is 490, but scientists cannot guarantee that all identified objects are indeed planets. The discussion highlights the challenges in distinguishing between planets and binary star systems using light curves, as binary systems can show multiple minima while planets typically show one. It is suggested that many planets may be missed due to the orientation of observation, as the angle between the observer and the system's plane significantly affects detection rates. The transiting method, while effective for smaller bodies, is believed to miss over 99.99% of planets, indicating that millions could remain undiscovered. Given the vast number of stars in the Milky Way, it is likely that many more stars with planets exist, particularly in our local neighborhood.