Yes, but we could definitely do with some more rotary-wing assets - which, in the FAA's case, probably means more Merlins because of keeping down the number of types in operation.
Remember, we've already had to buy some airframes off the Danes as (when it was still an operator) the RAF didn't have enough.
CROWSNEST isn't being generated out of new airframes, it's seeing them being pulled out of the existing fleet.
Some people on here might not like Merlin (one or two posters in particular... some of whom are the same person), and it is maintenance-hungry, but it's the best there is at the job it does.
In short, we need more Merlins.
Re. your final sentence, I disagree, it's reliability is shocking.