Nowadays most of the test matches can be boring and one-sided. Examples are the recent tours by South Africa to India, and the tour by Pakistan to Australia. And this is one of the reasons why I wanted two divisions in test cricket, with the strongest 5 teams in the first division and the other six teams in the second division. However, the ICC came up with the stupidest idea ever, and they included 9 teams in the first division.
I don't think that will be a proper way to handle the championship. The current system is not that bad. There are some teams who play least International test matches which I think one of the major reason of having underperformance. Big teams like India, Australia, England play more matches than other which is another reason of them performing well.