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The effectively cointoss plan for this tourney isn't better. They should accept co-titles for equally matched players

At the next tournament, two challengers are presented to the two champions with a co-title.

Imagine they also tie all their matches; now the world has four reigning chess champions!

Well, if they all play equally well, what's the problem?

I like this idea but not sure how that would work in the format of the World Chess Championship.