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To answer the original question, I think title prestige officially died with the idea of multiple "world" champions within a single company. Which is just fucking stupid. It was on life support before that but that killed it.
There are people who like to preach the Russo-sque "Who cares about a fake title? It's just a prop. As long as stories are being told, fuck the title." idea. The problem with that thought process is, you can always still tell stories without shitting on the title. But once you shit on the title, you can't go back and use it as a valuable prop within a story. For decades, wrestling always had at their disposal the simple story of a man challenging for a title and a bunch of other men fighting to work their way up to eventually challenge for a title. Then they fucked that up and now it's like "Okay. So that doesn't work anymore. What else you got?" And for the past 20 years or so, it's gotten more and more obvious that the answer is "Not much..."
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