Back in the day, since there were multiple top orgs with guys not fighting each other, and thus not eliminating each other, there were twice as many "great fighters".
Guys that are ranked like #10 in the UFC that no one cares about would have been #2 or #3 in the UFC or PRIDE if the UFC was split into multiple organizations. So wins over the #10 guy would be considered "elite", and you'd have tons of "elite fighters" piling up resumes of "elite" wins.
This is exemplified at 205. If PRIDE never existed and Chuck, Wand, Hendo, Rampage, Machida, Shogun, Tito, Sakuraba, Belfort, Randy, and Overeem were all in the UFC at the same time for their entire careers.. You'd only remember Chuck, Tito, Randy, Shogun, and maybe Wand. The other guys would be considered 'gatekeepers', and the wins they piled up over rank 5-10 "elite fighters" in their organization (UFC or PRIDE) would just be wins over rank 10-20 "bums" in a singular UFC.