When a site has a large quantity of views it can make organizing them and remembering what they do difficult. However it is possible to create a sub-directory inside the theme directory and organize the template files in a sub-directory. If a site has many views it is possible to further separate these into additional sub-directories.
This is one possible structure:
theme_root + views + view_name + display_name (with template files inside) + another_display_name (with template files inside) + another_view_name + display_name
When the theme registry is cleared, the sub dirs will be registered as containing the template files.