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If the Jedi functioned mainly behind the scenes, pulling the strings in secret, you might have a point about not needing quite so many of them - but they're not portrayed remotely like that, even in the OT.
Maybe the Jedi aren't this way, but the Sith are. That is the only way Palaptine operates, in both the prequels and the OT. And Vadar acts directly only to confront Luke. Otherwise he is operating through Tarkin, Lando, various imperial officers. Only two Sith are needed. Are we to infer that the Sith actually are stronger than the Jedi?
Granted, I just realized that in the prequels Lucas did make it very obvious that a single Sith was more powerful than several Jedi. Another reason to dislike the prequels, I guess.
But in the OT, Yoda operates behind the scenes exclusively. OK, Obi Wan hires the Millenium Falcon, and he disables the tractor beam on the Death Star. And he confronts Vader. But he doesn't pilot the Falcon, he hires Han and Chewie to do it (aren't Jedi supposed to be excellent pilots)? Nor does he take part in the rescue of the princess.
The point is, I don't think it was in the cards that the Jedi had to be portrayed the way they did in the prequels at all. I thought it was great that two Jedi were sent to Naboo, not to rescue the princess in that case, but to negotiate. I also thought that it was great that only two Jedi were needed to resolve the situation. But things went downhill from there.