Can there ever be too many decisions? Certainly. Just about any game has to have a tradeoff between playability and management or even micromanagement. IMHO Paradox has struck a very good balance throughout the EU series so far.
To sharpen your question, I would ask "Can there ever be too many strategic decisions?" On this point it is clear that that is exactly what Paradox's design philosophy is: to present hard strategic choices for the player. Johan has said as much in multiple DDs already. We can be confident that he and all of Paradox will make good on his promise.