I believe that the immediate title shot serves the purpose of making harder for Bellator to come up with a matching propose due to the large but still unknown income that Eddie would receive due to it.
It's pretty obvious Eddie doesn't qualify for a title shot and the UFC knows it!
Between Eddie, Gilbert, and Pettis
Pettis Cerrone(if it happens)/Lauzon/Stephens
While Alvarez may not be the best choice I do think his victories qualify him. Especially as both Pettis and Melendez are coming off injuries.