Bellator HW has always been a mess of a division though, it's one of the constants of history.
They kept Konrad fairly inactive and with a steady diet of regional level talent, then he retired. Volkov's reign ended as soon as it began due to Minakov, and then Vitaly went MIA for years due to his politics career but they refused to strip him and do something with the belt for some weird reason. Then, when they finally decided to move ahead and do something with the title's vacancy, they filled the tourney with blown up has-beens and a single fighter you could argue was still at his peak, who predictably won the belt.
I don't think there will be a single point in time where people will look at Bellator's HW title and think "Wow, it carries so much prestige!".