Festivals. Overkill?

Just sitting and musing to myself about Festivals. Are we overdoing it? I speak mainly here about performing arts festivals. Here in Adelaide we know have an annual fringe festival even though the Arts Festival to which it is related remains biennial. We have the annual Feast Festival (gay and lesbian arts) we have an annual cabaret festival we have an annual movie festival and we have womadelaide. (I consider music to be a performing art). Evwen some of the local councils are getting in on the act. Port Adelaide is planning a community arts festival in 2007. I'm sure I have missed some. Does it devalue festivals to have so many? The Fringe Festival has become a festival of cabaret and tent shows with very little emphasis on theatre this is clearly a reflection of what the public wants. How much public money is spent on Festivals that could be spent on a more permanent way of encouraging arts?

I personally am beginning to get the "Ho Hum another festival" attitude and I am becoming less than enthusiatic about taking part or evn going to anything. What about the rest of you?