I think it is too much if you look at it and feel uninspired and all the stuff makes you unhappy.
Sounds like you are on the right track with sorting, organizing and clearing some stuff out.
Right now I have an awesome studio but 1 1/2 yrs ago I was in a mobile home with lots of people and also sewed on the dining table. I did the bin thing too and it worked fairly well. Maybe keep the number of bins to what you feel you can manage/store comfortably and clear stuff out of bins in order to fit it in the bins that you really want.