The problem as I see it isn't that there are "too many new shows". It's that there are too many new shows that target the masses, to attract advertising to said masses. That means that fringe shows rarely get the attention they might deserve on their merits, because the bean counters don't see large number of eye-balls.
tl;dr: it's a business model issue.
Unfortunately, the other parts of Hollywood, the movie studios, have been bitten by the number-of-eyeballs silliness, because they want large returns on their big-budget creations. The only time a Hollywood studio will take a chance on a movie is if it can be done on the super cheap and distributed on a smaller number of screens. Not many modern movies meet the criteria. That's why we are seeing the flood of big-budget remakes, reboots, and sequels.
I personally "cut the cord" when TCI blacklisted me: my house-mate died and I refused to take over the service or pay the back bill. (The executor of the estate never paid the overdue bill.) I wasn't their customer, but they held me responsible anyway because I was living in the house! After that, every time I moved, every attempt to get cable service has been blocked by that blacklist...so I do without. (I get my cable modem service through a reseller.)
And, frankly, I don't miss it. I used to rent those TV series that caught my eye, then the rental business collapsed. I've considered Hulu and Netflix, but I'm not sure I want to commit the time to that form of entertainment. So I buy DVDs of those shows that interest me. Most of them in the used market, not the new.
Movies in theatres? The time interval between my visits to theaters is pretty wide. I went from Cars to Pitch Perfect 2 -- not exactly the type of movie customer The System wants to have. Part of the reason is I don't like the "movie experience" of people talking, texting, and worse. Or, in my last outing, the movie house had the sound turned up too loud -- the singing was good enough that they didn't have to blast it out. (And the usual excuse, dating, is out because I don't date anymore.)
Let's not talk about trailers in the theatre (I don't see), on TV (I don't see), and on YouTube (I do see). Most of the trailers convince me to NOT see the movie being advertised...