To put it in my perspective (and by no means does this mean anything more than my thoughts, so diddly

Due to dates the events have been on, this has turned into an almost Tournament Season for me. It starts in March, I go to about 1 a month, until September. Then take a break. But this is by no means intentional. If more events were run in the south, over the winter, I'd likely go to them as well as I love these weekends but cant afford the cost of travel and over night stays (especially now the wifelet, Tempest, plays as well).
So, for me, there is no tournament saturation. But, apart from the GT/NAFC, I dont travel far so maybe my perspective is skewed.