In March of 2001, WWE purchased WCW from AOL Time Warner.
A year later, most former WCW talent was kept on board as newly-acquired WWE wrestlers.
With the roster being so saturated, the WWE brass decided that a brand extension was the way to go.
Just like it still remains today, Raw and Smackdown hold two separate rosters and champions as their own unique shows.
As it stands of now, only the Unified Tag Team Champions (Drew McIntyre, Cody Rhodes) and the Unified Divas Champion (Michelle McCool) can go on either show and defend their titles.
With this being said, the WWE Championship and the World Heavyweight Championship can come together in the future, making one major champion on both rosters.
This could bring more importance to each championship, something that I believe has lacked in the past.
The Intercontinental Championship doesn't have the same feel to it like it did in the past, when the likes of Mr. Perfect, Bret Hart, Shawn Michaels and Razor Ramon held it.
It doesn't have anything to do with the talent, because WWE has a good list of wrestlers who could hold that belt strong. I believe it is the addition of the extra main championship that causes this.
Also, if the Intercontinental Champion could go on either show, I think that could help its potential and importance as well.
If the two main championships were to merge into one, it would be time to put an end to the WWE Drafts and the roster split.
Since the brand extension in 2002, WWE has seen a lot of wrestlers come and go. I believe they didn't have a choice back then with the amount of talent that they acquired.
However, eight years later, I think it is time to go back to the way things used to be.
Now that all pay-per-views are opened up to each show, and the fact they have unified a couple of championships now, I think WWE is easing it's way back to merged rosters.