There are so many problems with the UFC right now that it would take for ever to go through them.
I agree that they are getting to the point of over-saturation. As an example, between May 10th and June 28th, there are 8 events, with them having 2 events on the same day twice. How they expect people to watch/follow that is beyond me. With roughly 500 fighters under contract, you can barely keep up with who's who. When they did 5-6 events a year they had time to properly build up the event and the fighters. It was "must watch tv" for a lot of fans & you could plan around ppv's. Now, there's no way you could do that, unless your life involves only your couch & tv.