The sales figures don't indicate any "Toning it down" is in order. The more whacky the series has become, the better the games have sold through. I certainly hope they put SR and SR2 in the rear view mirror and never look back, both of those games were terrible for varying reasons. The path that SRTT and SR4 have been on has been critically successful, I don't suspect there will be too much departure from that formula in the next game of the series.
To quote a Youtube commentator about this: 'Remember when Saints Row was a GTA clone? Me neither. Good riddance to that.'
Bring on the insanity, I can't wait to see what they'll do for Saints Row V.