Actually, what you're saying is the opposite of what I was taught in my marketing classes in college. We actually had a whole lecture about the paradox of choice, and how Apple's simplified product lineup (this was around 2010 or 2011) was a huge key to their success and a competitive advantage.
Sure, market conditions and consumer preferences change over time, and we are definitely in an age of more consumer choice and customization. But in general the premise of the paradox holds merit over the long term.
I recommend you read up on the paradox of choice. Sure, having many options can be great for more technical users like us who want specifically what we want, but in general being overwhelmed with options can often cause consumers to not make a decision at all. Or at least delay making their decision for some time until they can sit down and do a bunch of research. And most people, outside of us geeks, don't do that.
The other thing about the paradox, is that when you have so many options available, a consumer ends up being less satisfied with the product they chose because they doubt they made the correct choice. This can lower consumer satisfaction and make them less loyal to you over the long-term. It's really strange and seems counter-intuitive, but it's a thing. And hopefully I'm remembering most of these details correctly. It has been awhile! It's definitely worth a search and a read, as I found it to be one of the more interesting things I learned in my marketing coursework.