I look it at from a few angles.
A. As a fan - I'd love to see Alvarez do his thang in the UFC and even if he doesn't get the belt, you're nuts if you don't think he'll put on exciting and competitive fights. FFS, his fight with "my boy" Mike Chandler was, IMHO, FOTY not Shogun/Hendo and Shogun is my top 5 favorite fighter (if you've been on this forum long enough you know how much of a mancrush I have on him).
B. As someone who met and spent some time with Alvarez (two Bellator events as press, 2 lengthy interviews and some time with him backstage when he beat up Roger Huerta, along with a few other fighters we were present) - I think he really cares about his family and finances first. In fact, in several interviews he really reiterates that financial success is his primary motivation BY FAR.
C. as a former "journalist/media person" - a combination of the two. But, I think that Bellator is right to maintain their stance that only people who fights champions in championship fights go through the tournament BUT they also need to be a bit more flexible. Hieron/Askren was very controversial and a fun fight, and FFS when do you see Askren in a "fun" fight? Give Hieron the rematch! SAME THING WITH EDDY! His fight with Chandler was awesome and it wouldn't disappoint in the rematch. And, from their POV, I think it's much more marketable to have Alvarez as the champion over Chandler.