Oh My Goodnes!!! For me, this is wayyyy overboard on stuff. The words extreme and hoarding were the first things I thought of. I can not imagine working or being creative in that space much less enjoy going in there.
I speak from experience. I have had alot of craft 'stuff' from years ago that I have been cleaning out. I have not used or looked at some of it in years and there is no reason for me to hang on to it in case I need it some day. My kids are in there mid 30's and I do not need to hang on to the things I began making them and never finished, the old craft projects that I no longer have an interest in, etc. I have taken over twelve packed car and truck loads to Goodwill, many bags to pastors wife (she's a crafter), and still am sorting and organizing.
The space all of this stuff is in has bogged me down mentally long enough and besides, I want the space for my sewing/crafting/and plants room where no critters are allowed except my Laddie (avatar).
I am no longer buying things I may already have, don't need, or will never use just to satisfy a desire or want. My DH is happy I am not spending money we don't have and because we pay cash for most everything, no outrageous debt like we once had.
Hope you ladies enjoy your spaces, but I am just itching to get in there and organize them for you. What a chore that would be.