This will give you more satisfaction and better leverage than a title when it comes to negotiate a raise or request anything else.
> comes to negotiate a raise or request anything else
You: i've been running X for the company singlehandedly for 2 years, i deserve a promotion
Them: But that's your job, we expect you to go above and beyond.
most companies have pay bands based on the titles. Always chase the title.
In the meantime, I went from junior to principal on a slightly longer path but I side stepped most of the downsides of the shortest path.
I would even argue that because I was less pressured and overworked, I had the energy and excitement necessary to get involved with more initiatives and was perceived as more productive than some of my peers who were powering through massive features!
You can think of it as the 80/20 rule or "Slow and steady win the race."
Your attrition may be regretted, but you can be replaced.
If you are indispensable at maintaining convoluted stored proceduces with business rules baked into them . Most likely you won't get the next level position which would need company to find somoneelse.