Without a shadow of a doubt, the most important item in every single wrestling promotion worldwide is the Championships. Those belts are the motivation for wrestlers to wrestle, as without them they are just wrestling without a goal. How wrestlers behave, present themselves and wrestle is very significant because it'll determine whether they are imaginary brass rings or precious, prestigious titles.
Mr. Perfect brought large amount of prestige to the intercontinental championship because he wrestled his soul for it. He showed to the fans that he cared for the belt like it was a part of the perfection that is him. Shawn Michaels lost his smile because he had to give up the WWE title, and the emotion he had bursting out of himself showed the fans that the title was his baby.
Nowadays, the title belts are little more than props for the wrestlers to wrestle for, and I hate to admit that. The world titles that are talked about are a big deal, but the other belts are not that big of a deal unless the wrestler takes it upon him/herself to make it a big deal or the belt is part of a storyline.
It's now bad enough that I consider the prestige level of the WWE championships as smack in the middle. What I mean by that is imagine a scale showing the lowest point a championship belt and the highest point, and it'll be at the midpoint of that scale. That's what today's titles are at in terms of prestige!
You can drag titles through piles of excrement, and they can still hold some amount of prestige in comparison to the five worse moments of a title losing it's prestige to a dangerously low level. So take my hand as we journey through the time machine of YouTube videos to witness these tragic moments!