The cruiserweight division was DOA because after years of showing that smaller guys were as talented or better than the big guys, they went back to sticking smaller guys in their own dimension where nothing has any stakes because being the cruiserweight champion means nothing to the rest of the company. Neville's great run as champion means nothing for him, because there is no upward mobility in being labeled as a cruiserweight and stuck in the phantom zone on a show where, at absolute most, 1/3rd of your audience can even watch.
Continuing with Neville, 2 years ago, he was competing in title matches against John Cena and Seth Rollins and nearly winning. Now, he's a cruiserweight, who can only fight cruiserweights. There's no upside to that. Back when WCW created the division, it was because the top of the cards were full of giant dudes and old guys who couldn't work, and the most talented guys were much smaller but who otherwise wouldn't get a shot. Today, guys like Finn Balor (smaller than many of the guys on 205 Live) has been Universal champion and at no point was he portrayed as some little guy overcoming the odds. The concept of a cruiserweight is completely outdated in 2017 and all it does is trap guys with a label WWE worked for a decade on getting rid of.
It certainly has nothing to do with the 205 Live matches not having enough flippy dippies, because those matches are full of the craziest shyt on any WWE show on a weekly basis, but no one cares because there is no reason to care and workrate shows for the sake of workrate shows don't work in the WWE system.