Originally Posted by Darkside Ron Garvin
Pretty much this
yes, in all of these cases (the Million dollar championship, the Broken skull championship, the FTW championship, etc) sooner or later the guy who came up with the belt defended it, and usually lost it, however it was never actually put into rotation as an actual title, it's just like when Angle and Benoit were fighting over Angle's gold medals, sure they changed hands, but that was just to further the story, not for any sort of prestige or anything like that. the "Real" (and I use that word loosely) WWE belts all serve some sort of purpose, they represent a certain echelon that the wrestler has gotten to. Whether it is the Intercontinental or US Title (workhorse, test for main event) or the WWE or WHC (Main event, obviously)
Now it can be argued, and probably will be that that prestige is lost, however the only reason that argument can even be made is if you first acknowledge that there was a level of prestige to lose, the Internet Championship, while an entertaining prop, has no prestige to speak of, and it should not. Just as nobody thought anything different about Virgil when he had the Million Dollar championship.