I suspect if they did many more episodes it might not be as fondly remembered
Considering the sheer number of jokes packed into each episode, it's hard to imagine they could have kept up the pace for a full season each year.
I wonder that myself. If the show did take off, how would they have been able to sustain all of that for a full season? It's unbelievable.
This show was so ahead of its time. Airplane! had already been released in theaters by this point, but it's been noted that your average viewer in 1982 wouldn't have been able to keep up with all the jokes and visual gags that Police Squad! had. Even Nielsen himself has since pointed out that back then, when you had shows like Three's Company, Happy Days, and MASH on the air, you were able to get up and go to the kitchen to get a drink while still being able to follow what was happening on TV so long as you were able to hear it.
Police Squad! on the other hand, demanded your complete attention or you would miss so many jokes if you turned away.