10 Instant Wrestling Title Devaluations
1. From Evan Karagias...To Madusa (WCW Cruiserweight Title)
Madusa was a decent female wrestler, at least by the standards of the time.
The fact that it was a woman who lifted the gold isn't the source of discontent here - rather, it was the sheer plagiarism on show. Chyna had only just wrested the WWF Intercontinental title away from Jeff Jarrett a few months prior.
In repeating the tactic, Russo fundamentally failed to grasp what his audience was looking for. Though their fans defected to it, they weren't interested in a pale imitation of the WWF. They just wanted their WCW back.
The cruiserweight division was a significant weapon in WCW's holster and Russo ruined it for the sake of mild controversy.
The devaluation was irrevocable - the next holder would be Ed 'Oklahoma' Ferrara, who despite having some wrestling experience, was a disgrace to the idea of a once-prestigious championship belt, which was turned into a prop because Russo and Russo alone thought the idea of his fat mate exceeding the the division's weight limit was hilarious.
The character was designed as a tasteless rib at the expense of Jim Ross' struggles with Bells Palsy but the joke, ultimately, was on Russo and Ferrara himself.
Ross remains a beloved and in-demand wrestling personality, whereas Russo, in a desperate attempt to stay relevant, would go onto fantasy book RAW (terribly) after having run both WCW and TNA into the ground.