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That's exactly how I've always thought of it. A legacy championship between two UFC veterans still in the top 10, but not necessarily title contenders.
Not a belt that is defended or "held", but just an acknowledgement of the significance of the legacy fight.
Jiri vs DDP
Jones vs Pereira
Holloway vs Oliveira
These are all fights that could headline a card and lots of people would watch. I talked shit about Holloway vs Poirier before it happened, but it ended up outselling Topuria vs Oliveira, which I did not see coming. So the BMF title fights are definitely drawing in the casuals.
Not a belt that is defended or "held", but just an acknowledgement of the significance of the legacy fight.
Jiri vs DDP
Jones vs Pereira
Holloway vs Oliveira
These are all fights that could headline a card and lots of people would watch. I talked shit about Holloway vs Poirier before it happened, but it ended up outselling Topuria vs Oliveira, which I did not see coming. So the BMF title fights are definitely drawing in the casuals.