3e was the first edition which really got me onboard. I had played BECMI and AD&D in the 90s but always as a player, and we typically relied on DM's books rather than buying them ourselves. But when 3e arrived I switched to being primarily a DM, and for a while I was excited at the material coming out all the time, and bought something like 25-30 books including some 3rd party. But eventually it became clear to me that it was just a form of consumerism, I was buying them only because I could, but I was using maybe 5% of them. The main purpose was merely psychological, my puerile desire of a "perfect game" which was taking the form of a collection of books sitting on a shelf, cherrypicked only occasionally even though in those years we were indeed playing the game a lot. My short life as a collector was quickly put to an end by the 3.5 revision... I waited before buying it only because I wanted to avoid errata in the first prints, in the meantime I used the 3.5 SRD to DM the game for at least half a year, enough to realize I preferred 3.0 and decided to roll back. I still bought a few more 3.0 settings books I had missed, but the fact that 3.5 books were technically incompatible became my saving bell. Then I saw the real bloat start, I saw people re-buying the same products just to have an "official" version of sonethingwhich differed by a skill point, I saw "builds" develop into a separate hobby, I saw lots of people pleading for even more feats and prestige classes, but then followed by furious discussions on brokenness and demands that the game would "reset" for everyone with a new edition. 4e policy seemed a reboot of the same follies, the final straw for me, and I removed myself even from all online discussions about it.
Came back when 5e was announced and public playtesting started. That idea alone was a gamechanger and key paradigm shift. I really appreciate their choice of a low publishing volume, and bigger focus on adventures rather than character material. It brought me back to where we started with BECMI and none of us knew or cared about books, all our focus was on two things: playing the adventures, and creating DIY props to improve the fun an the table (custom character sheets, pictures, counters, mixed tapes, whatever!). Not having to worry about keeping up with the new book of the month, or whether the latest ability the savvy player bought from an obscure supplement was going to ruin the game, is a blessing.
I don't even buy most of the books nowadays. I literally still only have the 3 cores + Volo, been waiting for ages before buying Xanathar just to see the errata stabilize, and only faintly considered Mordenkainen. I would buy the adventures however, if it wasn't for the fact that between my 3e era ones and a box of oldies generously donated us by one of our former players, I still have so many of them which I haven't run, that I promised myself not to buy more until I run out.
I certainly don't think there is too much 5e stuff published. I think that because I am satisfied without even buying most of it, this makes for yet another reason why 5e has been the best edition for my tastes.