If you want to grow the sport, I do believe having more than 1 class would be the way to go. I really have no good argument against moving towards multi-class in order to grow.
However, for strictly my greedy viewing purposes, I love the one class for individual wrestlers. (As a team, I have no issues with classed wrestling.) Knowing who the best individual in the state is something that I do appreciate watching every year. I understand that most of the champs would come out of the larger class, but rooting for that underdog under the lights is a feeling that is unexplainable.