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This is a double sided question.
I like the concept of KOTR more than I like the concept of MITB. As has been said, the KOTR winner looks that much more legit because he's gone through 4+ other people over the course of a couple weeks to get to the top, and it's also the traditional way sports competitions are played out. MITB is usually an exciting match, but it really is nothing more than a series of overbooked spotfests, and though the first two were incredible to watch, the others have been pretty much the same. The KOTR looks more legit than the MITB winner - its almost like the difference between a successful poker player and someone who hit the lottery: one guy worked hard and was smart and earned his shit, the other guy just happened to get lucky.
Now, on the other hand, I really like the MITB briefcase and I think it's been one of the best ideas the WWE has come out with in a very long time. Every single time the briefcase gets cashed in, a new star is born and an important moment is made. It really is the best way the WWE has given a speed-shot to an up and comer in a very long time - it's exciting, suspenseful and it adds intrigue to every show that the contract could be cashed in on. The KOTR winner has been given World Title matches in the past, but not in the same scenario as MITB.
So, as has been said before, I think the KOTR tournament should be brought back each year (and given its own PPV --- I hear they're getting rid of HIAC PPV...) and the KOTR winner gets the MITB briefcase. The best of both worlds.
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