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After combining the two tag titles to create one single title, though represented by having two different belts, that leaves the WWE with a total of seven and there's really no need for anymore. Having 9 or 10 titles on the WWE roster would be a clusterfuck waiting to happen. Even though the WWE has 6 hours of weekly television, that's still not enough time to give all the titles enough time that they need in order to help get them over, build up matches for ppvs, etc. There'd be weeks upon weeks at a time in which some titles probably wouldn't even be seen on WWE television, maybe even longer. TNA has been a good example of having too many championships and not nearly enough tv time to promote them.
There have been times in TNA in which the X Division, Global and Knockout Tag Team Championships haven't been seen in the longest time. TNA tries to pack so much content into iMPACT! in the first place that it's not surprising that such a thing happens. The Knockout Tag Team Championship is pretty much useless at this point, it's little more than a prop used just to give someone the appearance of being successful. Such a jumble of titles would be no different in the WWE.
Also, as has been said a huge number of titles can bring down the number of titles already active.