When I'm overwhelmed by fabric, I rate it on a scale of 1-10. If it's not at least a 7 --high enough to love or REALLY like--then out it goes. The freedom that goes with breathing room and rest for the eyes and nerves is well worth the parting of the ways.
It's tempting to say, "I could use this for such and such," but two questions: HAVE I ? AND WILL I in the next 3 months, honestly??? If the answer is no, get rid of it. Free up the real estate and treat yourself to some free space in your head and home.
I've never regretted getting rid of something, only hanging on.