Firstly, if you think there's too much - don't put it on. (Similarly, if you think there's too much classical music on Radio Three, listen to something else).
Secondly, BBC is severely restricted to what they can show live - since the rights to live broadcasting of events was bought by another organisation.
I heard the other day the BBC previously had rights to broadcast 3,500 hours but now that Eurosport had spent millions on broadcast rights in Europe, the BBC has rights to only 350 (live?) hours.
I noticed that on the BBC News Channel, Olympic reports show only photos and no videos.
Some people love sport. Not everyone lives in ‘ soup world’ gone are the days when there were 4 tv channels to choose from. It on Every 4 years, hardly excessive .
Given that the BEEB no longer broadcast live cricket, F1, horseracing, etc, it's hardly surprising that when they can afford the rights to broadcast certain events, they do so to the max.