They just did trim it. I think we lost 2 teams (Lansing & Bluefield if I'm not mistaken).
And if you want to compare to other sports, hockey has several developmental leagues around the world where young players can develop and hone their craft. Basketball as the G-League...and if it's financially viable, I think they could absolutely add to it. Basketball is already huge and is still growing in popularity...they could certainly add another round or two to the NBA draft and add another level to their "minor league" developmental league.
Really this all comes down to money...that's the bottom line. If it isn't making any then it's hard to justify its existence, but from a purely 'love of the game' standpoint, how can multiple leagues catering to young athletes trying to chase their dream and improve their game be seen as a bad thing?