I respectfully disagree...I don't think much would change at all.
There simply arent enough sponsors out there to support 4-5 pro organizations...there also arent enough good pro's out there to substanciate more than one pro org.
All it would complish is "thinning the heard"...which would result in BOTH federations struggling.
Also, as we've seen with the PDI...not exactly a mass exodus of pro's going over to compete. Pro's generally want to compete and be compared to the best in the world..they happen to be in the IFBB.
Only BIGTIME money would/ could change things as they did with the WBF. Athletes will go where the money is...plain and simple.