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The number of titles currently available are fine. 4 for each brand, one for the main event, the midcard and tag teams and for each brand's exclusive division.
The problem is not the quantity of belts, it's with the quality of hwo the belts are contested. For example, get that IC belt off Flair and have throw together any of the midcard on Raw and you've got an instant improvement. I don't even have to discuss how badly the Cruiserbelt has been misused (Funaki the challenger? Are you kidding? Why not use Mysterio for once!)
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