I'm gonna go with "no, there are not enough". If I create a new setting, I often end up needing to create a new race for it.
The ideal world has an infinite number of races- or at least all the good ones, which may be a smaller infinity- plus a really great search feature. Then when you make a world you pick and choose of this ur-list and have your work done for you by this subset of the akashic records (the helpful section for DMs, which presumably is there right?).
The issue is, while there are a zillion races, many players tend to assume that any of them are there for them to iterate on, come up with a cool character with, and then find a DM's game to insert said character in. Look at any discussion on race selection on reddit and mention you don't allow androids in pathfinder, or half-golems in 5ed, or the winged races, and watch the butthurt players roll in. The old Giant in the Playground forums would also also talk about this. The charop guides became totally dominated by race selection, back before you were a big old Nazi for assuming an elf had a +2 to Dex. And this is, of course, what everyone here is discussing.
Anyway, my take is- it's not the number of well designed races, that can and should skyrocket. It's the assumption players have that games should accommodate a much more expansive set of races than is good for the setting.