I think I agree. Sure, I loved Hoenn, but even then the large number of Pokemon was a bit much... And then they had to completely overdo it with Gen 4. Don't get me wrong; I love some Pokemon from every non-Kanto region, but I think with the unoriginality they've showed with the past Generation (possibly inluding Hoenn), maybe it would have been a good idea to keep the number down around 150. You know they must be running out of ideas when the back of the National Dex is stuffed with a rediculous number of Kanto evos and more than ten legendaries.
This isn't to say, though, that Pokemon would simply have to be R/B/Y and end. They could have easily come up with more creative concepts, made new regions with old Pokemon, and built on more for new games than just "ZOMG 100+ New Pogeymanz lololol!" In fact, in this respect, if they were limited to only 150 Pokemon they would have to make the franchise more interesting to keep people hooked. That would ensure that we'd have less fans saying "It's getting boring... Every generation is just the same thing with new Pokemon."
But, of course, that's all gone and forgotten... Too bad. I miss the days of Kanto (and Jhoto) already...