No one deserve permanent privilege. For example, look at Zimbabwe. They are still having the test status, despite performing below par for more than a decade now. IMO, there are far better teams out there, which deserve test status. On top of that because of their test status they receive 10 times more funding from the ICC, when compared to the other teams such as Nepal and Netherlands.
I guess we need to agree to disagree here.
Though being an interesting event, one of the reasons why cricket hasn't established itself as a global sport is the privilege system. Unlike other world cups, they have no to small qualifiers and a small number of teams compete. They are mostly concentrated around the commonwealth and is slow in adoption anywhere else.
Cricket is not being played in most of the countries of the world and it is the sports of few nations only. Still the game is very interesting and those who watch cricket are never bored of less teams. Also they are three formats, Test, One day, T20 due to which we are able to watch the cricket matches almost all the year.