Look at those who held the Women's Championship: Trish Stratus, Lita, Victoria, Mickie James, Michelle McCool, Molly Holly, The Fabulous Moolah, Ivory, Jazz, Beth Phoenix, Melina and many more.
Of those 11, 4 held the Diva's title too, along with Natalya, whom I think is a better wrestler than a lot of this list. Meanwhile you ignore luminaries like The Kat and Hervey Whippleman holding the Women's Title. Seriously, the Divas title has pretty much exclusively been held by the most over women in the company at a given time. The Women's Champion was Stephanie McMahon for 5 months.
I cannot believe the rose tinted spectacles being worn here. Women's wrestling was always shit, and it always will be shit. If anything, the level of thought and quality over the last few years is an improvement, because you don't have people having pillow fight matches every ten seconds.