#3 To make it clear that it's a lower midcard title

One thing is clear - this belt is basically for the midcard and lower midcard Superstars. It's not a bad thing at all, but if you look at the field of competitors going after the 24/7 Championship, then it's obvious to see that none of them belonged to the uppercard.
That's alright, because it gives lower and upper midcarders something to do on a week-to-week basis. It's a bit comedic in nature, which makes it light-hearted in itself. Either way, Titus O' Neil, Robert Roode and R-Truth are the perfect examples of midcard champions.
Female superstar says she inspired John Cena turning heel HERE
It's likely going to stay that way. Whether it'll be fully defended during PPVs is yet to be seen, but we could take a bet and safely assume that we won't be seeing it defended during PPVs very often.