~snip~
This relegation and 2 group project is a decade old. Yes, ICC is openly talking about it now but it won't be easy to implement. Only 1 vote is enough to take this project down in one go, unless boards like PCB, WICB, BCB and SLC are offered extra padding of financial benefits.
Big guns like ICC and BIG-3 are still silent on what if one of the BIG-3 drops in the lower group? What will happen to a marquee and cash rich series like Ashes, BGT and EngvsInd? It's not so easy and IMO not happening in the 2025-2027 cycle.
Given how the global administration works, I don't think it will be that difficult for Jay Shah to push the reforms down the throat of ICC member nations. Who are going to oppose this measure? The 2-3 countries such as Pakistan, Sri Lanka and Bangladesh? Do they need 3/4th majority out of the 15 members to pass this measure? Because everyone else are going to support this. The three associate representatives will support it, if Jay Shah can give them some breadcrumbs. The existing tier-2 members (Afghanistan, Zimbabwe and Ireland) are going to support it. And then add the 6-7 teams who will remain in tier-1, and you have a super-majority to pass the reforms.
In every context, breadcrumbs and financial benefits means a bilateral series with the BIG-3.
Because ICC's revenue generation and distribution model is already at its limit (BCCI won't take a cut because they made a compromise on every ICC tournament every year issue), especially the revenue generation so not much scope there. Everything comes down to bilateral so that smaller boards can pay their bills (As every test match is loss making affair unless one of BIG-3 team is playing) but the relegation system came up in existence because of a lopsided fixture in the form of bilateral. Call it the chicken-egg problem.