I refer to this datasheet. Starting with the microphone and its power/biasing:

simulate this circuit – Schematic created using CircuitLab
The microphone drops a few tenths of a volt (I assume 0.2V here, but this is a guess, since we have no idea what JFET is in the microphone). The remaining 4.8V is across R1 and R2, leaving about +2.6V at their junction A.
These are average DC levels, and we can create an Thevenin equivalent circuit for the blue boxed region. It becomes easier to see how C1 is stabilising the potential at A, by attentuating any power supply fluctuations over 1.6kHZ.
Resistor R2 is providing bias current \$I=\frac{2.6-0.2}{2k} = 1.2mA\$ for the JFET inside the microphone, which ultimately decides the DC mean potential at B.
That frequency seems rather high, why not cut-off at 20Hz? I assume the reason is two-fold:
Keeping C1 × Rth small allows C1 to charge quickly, establishing the DC operating point quickly, and keeping "power-on thump" (I don't know what the technical name for that is) short.
It's silly not to have an extremely stable supply for this circuit, so I don't expect there to be much noise anyway. However, this device's power supply rejection (PSRR) degrades quickly above 1kHz (page 4): 
At low frequencies the IC takes care of noise, but C1 avoids injecting that same noise into the amplifier's input, and compounding the problem. It helps flattens out the overall system's PSRR across the spectrum.
The DC average at B is close to 0V, but sufficiently high that AC components (of only a few tens of millivolts) will never cause B to leave the amplifier's common-mode input range. However, this setup has a gain of 10, so the output amplitude can be hundreds of millivolts. Therefore you must center the output well above that, to keep the output significantly above 0V and below +5V.
This is achieved by the two 1MΩ resistors, which are not there for current limiting, except in the sense that their values are kept high to minimise loading of the microphone signal. They are just a potential divider to provide a stable +2.5V DC bias at the amplifier's input. The 0.01μF capacitor isolates the 0.2V DC on one side from the 2.5V DC on the other, while still permitting AC fluctuations from the microphone to be transmitted to the other side. This use of the capacitor is called "DC blocking" or "AC coupling".
It's worth noting that the 1μF capacitor is responsible for holding an average potential at the inverting input equal to the average potential at the junction of the two 1MΩ resistors (the non-inverting input), so the overall output is also centered around +2.5V. This capacitor, even though it isn't inserted directly into the signal path, as part of the feedback network it performs the same function as "AC coupling". That means that you don't have to use two 1MΩ resistors; their ratio can be chosen to provide whatever mean voltage around which you wish to center the overall output.
That capacitor causes high-pass filter behaviour, but it doesn't affect frequency response in the audible range, since it gives the amplifier a cut-off frequency of about 16Hz.
That's not the only reason the designers chose to shift the signal up in potential, half-way between the supply potentials, with the two 1MΩ resistors. Also this device is only able to sink/source its rated output current when the output is well over +1.5V. On page 6:

As you can see, every element performs a very specific role, and it's not trivial to simplify the biasing without compromising behaviour in some way. That's not to say it's impossible. There are options when using a MEMS.
From what I've read, MEMS microphones do not need biasing, and can be powered directly from the supply rails. Their output is obviously centered around some potential between those extremes. For example, the IM68A130V01 is biased to have a DC output of 1.3V.
This means that the two 2kΩ resistors and the 100nF cap are no longer needed. How this affects power supply noise appearing at the output I don't know. The datasheets are essential to find out this kind of thing.
Lets's say you have an analogue MEMS device with output 2V DC average. If the maximum expected amplitude of its output is 100mV, then it swings between +2.1V and +1.9V. Tthe amplifier's output would be 11 times greater in amplitude, but with an input of 2V average DC, it would be perfectly OK to connect this signal directly to the amplifier:

simulate this circuit
Just remember that you have to keep OUT well within the power supply potentials. This direct connection is therefore only possible if the MEMS output is centered somewhere near the middle of the supplies. If it's too close to either supply, you'll get clipping, and the MAX4466 has some weird dynamic output resistance when its output is below 1.5V or so.