I think it'd be kinda cool to see him in the Cruiserweight Division a few years down the road after the division's credibility has been built up a lot more. As of right now, I think it's catching on slowly but steadily based on the improved fan reactions. Akira Tozawa is already getting good responses during his matches, Neville's doing really well as a heel, Jack Gallagher is catching on nicely, Rich Swann is getting better responses, Noam Dar comes off as a good "creepy" sort of heel, Brian Kendrick is fun as the sort of manipulative douche, I think there's a lot of untapped potential in Cedric Alexander as he's a lot of fun in the ring but he needs some sort of character I think and Austin Aries is reportedly set to join the CW Division before long and might feud with Neville over the title.
So yeah, all in all, I think the Cruiserweight Division is starting to gain some momentum and that's due almost entirely to 205 Live. Balor made his bones in New Japan as a Junior Heavyweight, so it's not as if it's something that I can really see as being beneath him, but I think it's too soon. Again, maybe a few years down the line, we could see guys like Balor, Enzo, Gable and a few others come along.