I can intellectually appreciate the desire to have one World Champion. I really can. Emotionally, I just don't feel it working though. It's the same reason a Cruiserweight Title is actually a bad idea. You'll either end up with cruiserweights that are too good for the Cruiserweight Title, rendering it meaningless; or a bunch of guys fighting for the "little man's" championship and never getting out.
I don't think you can call for the creative teams to be autonomous AND have some sort of shared stake to the championship. Maybe in a perfect world, but I just can't see the collaboration needed to put together what would essentially be joint PPVs happening with one World Championship. That's just my feeling on the matter -- I'd eat my words if they pulled it off.
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