I was brought up in the days when the 2 channels became 3. Much later they became 4 and now......phmupty zillion at my last reckoning.
I don't think we should get rid of any channels. If somebody wants to broadcast and enough people want to watch the paint drying channel then so be it. I'm not interested but I've got enough to watch.

Diversity is important.
If bandwidth was limitless, or at least appeared so to the end user, then there's no reason why there couldn't be more niche channels.... How many interested in subscribing to
CF Television interactive?
IMHO, traditional TV is slowly dying, if not already dead. The living room entertainment that is delivered to us is rapidly evolving and will continue to do so.
Just think of how technology has effected the average home in each decade since the 1950s.... The joy of having a TV in your "front room" in the 50s to the excitement of getting a 4th channel in the 80s

... I think we're on an expotential curve and we're living in exciting times.