[Jeritron]

I've thought of this for a while. It's the state of things. In later times, there'd never be more than 3 or 4 former champions in a promotion at the same time due to the way the business worked.
They'd be weeded out by factors like injury, or free agency. Either that or they'd simply be phased out.

Now, wrestlers last longer, and there's only one big dance. Chances are, if you're a former champ, you're going to be able to keep a job in WWE. These guys are kept under contract and keep wrestling because they can, and because TNA can't sign them, or WWE doesn't want them to.

WWE plays two fiddles nowadays. They push talent to the world title consistently. There's no denying that. Like the old days, they still create new champions which has always been a strength.
But it doubles as a weakness now, because of the old champions loitering around the main event scene. We see guys wrestling into their 40s now, instead of going to the "Atlanta retiring home" as they used to call it. So now WWE is doubling as what WWF once was, and what WCW once was. This causes a full house.

I agree, it's a problem.