There is a lot of exchanges but the bad part is there is not enough competition. I mean there are some small exchanges that make their money from adding obscure coins that nobody except that community wants to trade and they have like 5 thousand dollar volume total but hey that makes them another 50 bucks so they add it anyway, add 100 coins like that and you get 5 grand per day.

Look at all the top exchanges and difference between them and the small ones are huge so there is no real competition, you are either in the top 5 or you are a small exchange no matter what. Instead of starting more exchanges maybe people should try to focus on acquiring companies.

A small company could acquire a smaller exchange and then combine the powers together, then it can buy another small exchange with the money it makes and continues to grow like that and become one of the big exchanges, until that happens another new exchange means nothing.