I like the idea of having a King and having it defended more scarcely. It shows that there is one person that is the best, and that challengers have to work in order to be named #1 contender. If the King gave out title shots to everyone who asked for them, it would sort of lessen the significance of the title, in my opinion anyway. I see where you're coming from with the idea of having a title as well, but I think the King idea is unique and holds the most prestige.