Me personally, I'm old school so I only want 4 titles in the WWE.
That is all. Creative then can get off their asses and make feuds that aren't revolved around titles...which IMO is the lazy way out....how do we get such and such to feud?....lets have them fight over a belt...when we are done we will just throw someone else in it...for a belt.
Look at some of the WM before the WCW buy out and before the hardcore title. The matches were fine and booked well even without titles. Just personal feuds, with two wrestlers who hate each other.
Just my opinion, but that's how I would take it, if it was my call.