I got called in on a pond similar to this, not as large. The problem was multiple causation, that all intertwined. I think the foundation or base problem was a lack of cover for the forage fish. I noticed there were very few small anything. No small bg's, no small bass. No cover for them. At first I tried adding forage fish. This was a temporary fix at best, I was just feeding the starving population. I then started over and began establishing forage fish cover. Aquatic plants along the shore, submerged brush and rock piles, And I started adding more forage, crawdads, bullfrogs and lots of bluegill. It took a few years but I finally crossed the cannabalization point, where small bass and bluegill began to survive a season. I did not have to remove one single bass and the average catch weight and girth went up immediately after that. Now I have fat bass, a lot of them and forage fish everywhere. It would not hurt to thin them out, I would just cringe throwing them out in a field to rot. I don't thin, I put more food in.