I've always thought it was the cut.
Diaz would've defeated Noons IMO. And he still can. Nick is a menace in the cage and K.J. doesn't want to go at it with him.
While I am shocked Noons hasn't made any contact with EXC on this fight, I really disagree with you on Diaz taking KJ in that fight. KJ was on, his stuffed Diaz a number of times on the take down and the only thing Nick was blocking was KJ's fists with his face. Even when Nick took him down KJ got right back up. I didn't see that fight changing one bit, and see it the same way again I just can't believe KJ hasn't accepted this fight yet.