Because there aren't enough agencies already feeding false dreams to young women who really don't have a future in the business.
I'm with you on this point, the place is pretty (over-)crowded. Too many agencies, too many aspiring models or models starting some so-called careers with no perspective at all.
I liked it when Monster opened in Milan, I like the fact it's still working for them, I do understand their will to expand etc. Will that change the whole game ? I guess we can guess...
Then, all that mish-mash with Supreme happening meanwhile. Much, much noise and I'm not sure at all it's actually going to bring anything new at all. Anyway, Supreme will always remain Paul Rowland's project to me. Okay, he left and they had to make a decision back then, so, I accepted the fact they rebranded it and had no issue with their first tries with the new Supreme. But now it's just a part of a network turned into some small network but that remains a part of a bigger group owning some other agencies, some other networks etc.
And even when it comes to new agencies opening without being that openly backed by something bigger behind. Most of these agencies aren't bringing anything new, proposing anything else than what'd being done everywhere else. They may have connections or skilled people or access to top new faces and whatever you may wish starting a modeling business, they're just another agency in a world that doesn't need that now. There will always be the niche-market little one offering something (more genuinely) different and that won't get as much coverage, or the lovely outsiders you wanna love because they actually try to make a diffrence (in termes of aesthetics for example but it doesn't stop here). But they remain exceptions to the rule, that's why you get a little more thrilled seeing a new player even if you might count among the only ones actually excited.
Also, we are discussing here about totally legit agencies. How many crooks sell their craps on social networks meanwhile ? You could have a good laugh browsing their Instagram profiles if you weren't aware those people can actually hurt or ruin the life of young people who grew up reading and seeing and hearing all the clichés about fashion modeling, including some of the most sophisticated lies. Those clichés are pretty die-hard things, today more than they used to in a rather recent past. 20 years ago or so, modeling wasn't the ultimate dream of many young persons in a country like mine (France, for the record), youngsters had other things in mind, other aspirations. Nowadays the call of the easy money, glitz and glamour, worldwide notoriety overnight are back for good it seems... and when you gather all these aspects with everything else listed before, it looks like a pretty sad, sad overall picture for any passionate soul.