The decision to have him relinquish the title makes a ton of sense. No matter what McGregor and his camp says, he's never fighting at featherweight again. he looks like 100 miles of bad road when he cuts weight to 145 pounds. He looks like a walking corpse at the weigh-ins. It's just not a good idea idea or in any way healthy.
But he won the title, and spent the entire year avoiding fights at featherweight. He opted for two fights against Nate Diaz at WELTERWEIGHT. Then he fought at lightweight. When exactly is he going to fight at featherweight?
Is Conor McGregor a phenom and a phenomenal fighter? Yes. But let's not mix things up here. As a champion, he's failed to defend his title and answer the challenge to the title contenders at featherweight. So it's not a mistake to strip him of the title. Has this situation been mishandled? Yes, but that doesn't mean they shouldn't take the belt off of him.
UFC has been honest since the beginning. McGregor would have to give up one of his titles. Why should he? Because he can't realistically defend both titles and that's a fact. As soon as he won the featherweight title, HE STOPPED FIGHTING AT FEATHERWEIGHT. He refused to go back down to featherweight and demanded another fight with Nate Diaz at WELTERWEIGHT and the UFC granted him that. They granted him the lightweight title fight in New York that he wanted.
Sorry Mystic Mac, but even if you ran through that division just because you are two divisional champ doesn't mean you can log jam them either. He may have beaten Max Holloway before, but Holloway has now won nine freaking fights in a row. He's rightfully earned a shot at that title.