One of the many reasons I haven't followed wrestling on a consistent basis and haven't considered myself a fan for some time is my belief that in WWE, the titles don't really mean much and haven't since the whole brand extension mess. While there have been glimmers of hope sprinkled throughout the last 10 years or so, ever since they began flooding the company with titles and establishing two heavyweight WWE championships (not to mention a US and Intercontinental title), the company still hasn't quite figured out how to make these stupid things seem even remotely important. Having two top titles is like having a Best Picture and Best Movie award at the Oscars.
To the best of your knowledge, which of these is true: A) Vince and company know full well these belts don't mean what they used to and simply don't care, or B) They aren't aware a lot of people feel the same way I do and truly feel fans care about these ill-defined and diluted championships. And now that I think of it, if the former is true, why do they not care? Why do they still feel such a need to keep around two world/WWE titles when they isn't even a brand split anymore — not that they did a bang up job with them when they did have a split in the first place?

Operation Clean Out My Inbox Continues!
They know full well and they don't care.  They consider them to be nothing more than TV props there to "tell stories" and sell toy belts with.  They literally only keep all of them around because they have to clear any changes to the belts with Mattel first, and they make way too much money from replica belt sales to just give that up.  That's why I'd be shocked if they actually had Cesaro bring back the European title as has been rumored.