Perhaps the small libraries of historic figures has more to do with the availability of books than it does their minimalism. I agree that people should not be reading every new self-help or business book that gets published. The majority of new books are bad. History acts as a great filter, which is why focussing on old books is a strong heuristic to find good books. I also agree with Nassim Taleb, who says that you should try to read the works from people who have actually done something (opposed to modern pseudo-philosophers like Alain de Botton, who is just trying to capitalise on the religion-shaped hole in western morality). I am not a religion apologist, but his videos and lectures are structured exactly the same way as sermons. He even feigns a false pastor modesty. Ugh I am beginning to rant now.
As a civilisation I still believe that we are not reading enough. I can feel my reading habit eroded and tugged by modern media. I feel fulfilled after reading in a way that YouTube or Netflix cannot provide.