Too many toys is both our blessing and our problem. It may keep them entertained, but the playroom looks like a tornado hit it. The clean up/keep up is overwhelming. Time to make things simple. Here is one idea for toy organization:
Start with several large numbered bins filled with different toys. For example, you could have 5 bins (one for every weekday), and then switch them every day or week.
Plus ~ Only allows for a small mess, which can easily be picked up and put away. Allows for variety to cure boredom.
Minus~ My kids ask to play with a specific toy, so I probably will end up taking one toy out of bin #3 and another out of #6. Children need to have choices available if they are going to learn to make choices and have self-directed play. For example, they might not want to play dolls on Tuesday, but end up playing zoo the whole week.
This is probably not our solution, but it may work beautifully for your family. A toy library would probably work better for us. We have one sort of in place, but we need an improvement. I will post solution as we solve our own playroom problems.