Yes, it’s high but not unusual. EPs are the people responsible for getting a show on the air. There are so many because it covers a wide range of responsibilities. Studio execs, financial backers, stars who helped get a show made, people who have some interest in a aspect of the project, etc. It can range from a honorary acknowledgment to the person of runs the entire show.
I have a family member who is listed as an executive producer on a few independent movies because they invested in the production company. One of those films has 36 executive producers listed on IMDb. The harder it is to get a project made or the more complicated it is the more EPs involved.