David Arquette held the World title too. Titles mean absolutely nothing.
Then why is Austin's win over Michaels at WrestleMania 14 considered a top-10 all-time WrestleMania match?
On paper, it's hardly a memorable bout, except for its obvious ending.
One, Michaels barely made it to WM14 because of his back.
Two, who in their right mind thought that Michaels was going to retain the title?
Three, that match had the tried-and-true formula for a title change: Heel champion vs. face challenger.
In
WCW, titles may not have meant that much, except for Goldberg's reign. But in WWE, that strap means everything (hence, all the drama with the "Survivor Series Screwjob" with Bret Hart).
That's how Austin, Rock, Helmsley, Cena, Orton, Undertaker, Michaels, et. al. came to prominence.