WASTE OF MONEY for a contest with the resulting WINNER already pre-determined. Unless you want to see who places #2-#10.
some people believe the O title is more for overall sport growth, stability, longevity, and as the 'mantle-piece' for each year. The dynasties are good for marketing, good for recognizability, etc. It might just take 3 years for a nonchalent teenage UFC fan to learn Mr O is Jay cutler. Changing it every year would make that tougher, and would mean supplement companies have 9 months to design, launch, then take down the reigning Mr O supplement sale materials each year.
That's just one POV. Other believe it's a completely objective contest devoid of any $ or political influence.