Actually the common consensus is represented by the Ring Magazine's ratings.
This system is held in high regard by all and is generally accepted as the best system available to us and they had Ricky Hatton as their Champion upon his upset victory over Kostya Tszyu. Not Mayweather. You will find few to agree with you there.
Without a formal ranking system boxing would descend into an even more blurry mess with more fighters claiming that they are the champion and various sects of fans inclined to believe them. This disuades the use of "common sense."
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