Don't agree with this at all. For me and probably a lot of people who got back into wrestling when AEW kicked off, the Elite are a major reason why.
They'd free up tv time if they simply trimmed the fat and as others have said, Tony stopped signing anything that was available just for a cheap 'new toy' pop.
Obviously you still need some jobbers but I would build around MJF, The Elite, Starks and Hobbs, Swerve and Lee, FTR, The Acclaimed, Death Triangle, Miro, Wardlow, Page, Mox, Danielson, Darby, Jungle Boy. Probably missing a few but if they can focus back on making the titles actually mean something these are the ones you want in the title picture and headlining your PPV's.
The women's division is a whole other mess completely but oddly one that's easier to sort. They need to push Jamie Hayter whilst she's hot.