I dig it.
It's a TV title....but instead of calling it a "Television championship" which, of course, has the "midcard stigma" on it....you literally just name it after the TV channel that it'll be fought over/defended. Makes it seem more significant b/c you're putting the name on it.
Plus you're dikkriding the suits...so that never hurts.
They DESPERATELY need this. Gives the youngins and the 2nd tier OGs like Shawn Spears something to fight for...although I could see Cody being the inaugural guy since he "CAN'T" win the world title and whoever took the title off him gets a good rub if he holds it a while.
The more obvious route would've been to just use the IWGP U.S. belt but....yaknow
........