I have over 1.5TB in just TV shows and no, I am not removing most of them. The only shows that I have removed were shows such as the Wire that I lost interest in after a season or two. Most of my shows, I download and they get copied over automatically to a second computer and this is how I make "backups" with my library being so large.
Apple has stated that it is still up the users to have backups of all purchased shows because shows in iTunes may be removed at any time. If they are pulled, you can't download them once that happens. I have many seasons that aren't available on iTunes to download. If I delete them, I can't ever get them back. Several shows on Fox have been pulled over the years as an example.
By the way, I scanned your code and it takes me to a video not found on YouTube.