NXT has a lot of talent, but as we have seen over the years only a select few will become NXT Champion. I think there is enough talent on the male side to add a 2nd tier title, plus championship feuds are always the easily to book.
list of guys who can benefit from this and could be possible champions
Rodrick Strong
Aleister Black
Eric Young
No Way Jose
Tommaso Champa
Johnny Gargano
Hideo Itami
Bobby Fish
Kyle O'Reilly
Andrade Almas
Lars Sullivan
A lot of talented/young talent who will possibly never be NXT champion, so why not give them something to go after? What would the title be called? IDK can't really come up with a good name right now.
I would say have Lars be the first champion so NXT could have a Monster champion without putting the NXT title on him, but he is still green as hell. So I say give it to Black.