To be honest, this is absolutely long overdue. Between the four organizations, the need to sometimes have interim champions, and the inane recent tendency to have a super champion, it wasn’t unheard of to have over a half dozen champions at a single weight class at a given moment.
I mean, right now, at the super lightweight and super flyweight:
Note: The Ring is a third party ranking, so the above is showing that each weight class has six different people as champs right now.
The only real downside to consolidation in general is that undisputed championships would no longer be a thing.
But not going to lie, the PIF being in charge is all kinds of worrisome, though. But they definitely have the money for it.