I think I have a way to get them off RAW, get rid of 205 Live, but still be able to save face and don’t admit it’s been an abysmal failure.
You have Regal announce a new division and championship for NXT. This new division won’t be about weight limits, it’s about no limits (stolen from TNA, I know). NXT is going truly global and Regal invites anyone around the world to compete in tournament to crown the first champion. They could call this division and title anything….just as long as the word "cruiserweight" is avoided like the plague. It should have been avoided in the first place.
You bring in the guys from CWC/205 Live, UK guys, etc. Lio Rush just signed, maybe Ricochet if he’s available? You also bring in bigger guys that can flip and flop…and dive…to further get over the fact that there’s no weight limit. Phase out cruiserweights on RAW during this period. No one will notice or care. However, in Full Sail these guys would be incredibly over and would look like superstars. Perception is reality!
You crown a champion and Neville shows up in NXT to challenge the new champion and unify the titles. This way they never put forth the idea that it’s a failure, it just morphed into something else. Something much more innovative and flexible and would give guys room to grow instead of being pigeon-holed with a weight limit. A guy like Neville could easily go back to the main roster and be a solid IC/US champ. Any of these guys could go to the main roster and have a huge buzz around them like all of the NXT guys that get called up.
Really, that’s over-complicating things a bit. They mostly need to get the tapings away from the big arena shows, or at the very least move it to the BEGINNING of the Smackdown tapings. But they’re so married to the "Live" aspect of the "205 Live" name that it somehow HAS to be shot live, as if anyone cares. I’d say just film at Full Sail, but that crowd has been regressing for months now and probably wouldn’t be much better.