Explain to me like I’m 5: Why does NJPW keep retiring old titles and establishing new ones?

As the title says, why though? I don’t have a great knowledge of this, but I’ve been watching New Japan since 2014 but never really nitpicked, I just enjoyed the matches and some story if I understood it.

I just wanna know what’s the rationale behind what they’ve been doing.

Is it to freshen up the belts? If so, couldn’t they just do it especially with the V4 Heavyweight belt? (That one was a beauty with the former world champs as sideplates) if that’s the case, why hasn’t the Jr. Heavyweight belt been freshened up? It’s like the titles are being given a hot potato left right and center, you have this US champ, oh a UK talent holds it let’s name it the UK belt… oh but it wouldn’t look good if US talent contend for it let’s make a new belt called the Global Heavyweight title. It’s just so weird.

by zomboidTM