They don't need to reduce the number of players or the number of matches. The problem is that the current format does not keep the tables busy. If they kept the tables busy, there would be enough time.
I agree, though, that if they keep the current format, the horrible scheduling problems will continue unless they reduce the entries. If they cap entries some people won't attend if they can't play in an event.
I've already proposed an alternative buy-back format that has been used successfully around here. They were not interested. That format keeps the tables busy.