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Lower and mid card championships has nothing to do with nostalgia and everything to do with building up superstars which wwe has neglected to do for quite some time now.
It adds a bit of relevance to the wrestler and starts to build a career and legacy. If these guys take their title reigns to new heights then the wwe can find a way to make them loose it and move up in the rankings. They are relying simply on story lines and matches to get guys over and are simply making it harder on themselves. They pulled it off with 2 hour shows back then now that raw is a full 3 hours you have more than enough time to pull off some new championship time. I know times have changed in the wwe but honestly I feel it hurts them more to not have these titles around than it benefits.
Instead of having dance offs and meaningless non relevant matches they could have title bouts.
I'm not referring to lower and mid card championships when I bring up nostalgia. I'm referring specifically to the Cruiserweight championship, a specific belt for a specific division.
You're right on one part. Sometimes the storylines without championship stakes are difficult to pull off. Part of NXT's current critical success is in it's a simplification of wrestling; just wrestlers trying to climb the ranks and win championships. However, this is absolutely no reason to add a new belt when these simplified feuds could take place for the IC or US titles. If creative finally decides to do something relevant with those mid card belts, then maybe they could consider reinstating an entire division for the sake of a championship.
For now, leave it in the championship graveyard with the European and Hardcore titles.