And this right here is exactly the root of the problem. Settling.
Expecting MMA fans to dish out their hard earned money for yet another watered down event only to watch Silva beat the shit out of another can with a bunch of other fights that also suck isn't fun.
The UFC should absolutely cut down the number of events if they do not have enough resources to ensure their paying customers will get top shelf fights. And not just one or maybe two good fights per event mind you, all of the fights.
Quality over quantity.
If you look at the original card for UFC 153, it can hardly be deemed as having 'one or two good fights'. The fact remains, and you're blatantly ignoring this, that losing a main event and a co-main event is going to leave even the most stacked of cards feeling like something less.
UFC 153 was hardly watered down. It was loaded with great bouts. I understand that you believe every match on the card should feature main event talent, but then we'd be privy to all of 3 or 4 PPVs a year, which would still cause moaning.
Jose Aldo vs. Frankie Edgar
Glover Teixeira vs. Rampage Jackson
Jon Fitch vs Erick Silva
Phil Davis vs Wagner Prado
Demian Maia vs Rick Story
You'd call that a watered down card? The fact of the matter is that UFC was treating us to a very good to great card which then lost its main event and co-main events within hours of one another. You offer the idea that fewer events means consistently stacked cards, and whilst I don't disagree with you, what happens when injuries plague those cards? Even with fewer cards, the UFC would still be forced to scramble if and when a fighter was forced to withdraw shortly before a fight.
Again, you've offered nothing in terms of ideas on how to better fill last minute openings or book replacement bouts. I'm all ears if and when you have something to offer in that regard. Until then, you're simply acting as though UFC 153 suffered from the same issues as UFC 151, when that's not at all the case.