It's irrelevant whether you, I, or anyone else thinks there are too many exchanges. It's a free market, and if someone wants to create their own, then they're more than welcome. The challenge for the exchanges is penetrating the market. Setting up a decent exchange where the volume will be enough to make money is not easy. From a trading point of view, just be careful which exchanges you use. I have only used 8 so far, but would have no problem using another one if it matched my needs.