Having a division without a belt is not kosher to me. Every fighter wants to be the champion. To say that they are the best in the world. It's hard to do that if there is no belt in your division. Having no belt removes a lot of the drive and the sense of forward motion - the feeling of the fight having a point. Which doesn't matter to all of the fans but it would matter to the fighters.
That is not dead which can eternal lie and withs strange aeons even death may die.