Nor should it. We should be eliminating some of these governing bodies, not recognizing more.
I wish fans who whimsically advocate for the demise of the sanctioning bodies really understood what they are wishing for. They're far from perfect and their governance of the world rankings can be frustrating.
But they are a huge part of why the talent pool in boxing is so big. Those sanctioning bodies don't just crown world champions and order mandatories. They're got sub-federations all over the globe, each with their own continental and regionla, rankings and little trinkets, which creates a pathway for professional boxers to progress up to the top of the sport if their talent allows it. It's why you gets fighters from all different countries and backgrounds competing in or around the top levels. Why a kid living in poverty on the streets in the Philippines can find a path to become an ATG. Boxing's talent pool is it's biggest strength. It's much bigger than UFC or MMA. The 4 sanctioning bodies facilitate this. And if those sanctioning bodies were to go. There would be no pathway for boxers, outside of the few big countries, to progress, and so participation levels in the sport would decline and the talent pool would shrink.
Never. Within a year even the WBC, WBA, IBF and WBO will be relegated to secondary, lower tier of boxing after The Saudi's, Warren and Hearn complete their privatisation of boxing and launch their new UFC type organisation, with their own titles and rankings, where only their 200 contracted fighters are able to compete. With everyone else, including the 4 sanctioning bodies, left on the outside. Struggling to survive.
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The WBO and IBO started in the same year. If it hasn't happened by now for the IBO it's not going to.
Nor should it. We should be eliminating some of these governing bodies, not recognizing more.