It's a mixed bag.
His PPV title defenses have all exceeded my expectations and has 1 classic during this run (the Iron Man against Dragon). And the Cole pairing gave Dynamite and AEW a breath of fresh air for close to two months -it sadly stopped in its tracks after All In- but I don't feel the title has been elevated after basically a 1 year run and even though MJF does feel like a much bigger than 12-18 months ago, his angles and feuds have not been "world title worthy".
I feel like he should drop the belt at Full Gear to either Ricky or Swerve and continue to develop the Adam Cole angle without the main belt being attached to it. Max can always go back into title contention in late 2024 or 2025