Dude, it has not been a flop. It just hasn't been on main roster. Officially, the UK title is part of NXT's titles. There have been fantastic matches between the UK guys, they are for the most part over with the NXT crowd and they also work a bunch of indy dates that not only make the UK title a bit more prestigious but also helps raise their profile when they wrestle for other companies with a WWE belt.
Sure the UK show being put on hold was disappointing but it has certainly not been a flop. I mean, the UK guys have given us the best match of the year so far as of the last NXT TakeOver and that includes main roster matches.

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Its a flop because the tv show was supposed to be up and going, and right now it might not even happen at least for sometime.
I don't think that makes it a flop per se, just that priorities are elsewhere for the time being. As Rhys said, you can't call something a flop that's given that high a quality in matches IMO.
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I wouldn't call the division a flop. The idea and plans, maybe. But the division, no. From what they've shown, it's been top notch stuff with great matches (one match being my match of the year so far, which I don't think will be beaten). It's garnered a lot of interest over here as well. If you take it for what they've shown us, it's been good.
It's sad that they're cost cutting when they're still making an absolute fucking fortune. It's not like they're running into debt or close to the line of no-to-little profit. They're cost cutting because people at the top are getting greedy and want the bigger payouts from higher profits. What that means is that they're not going to give something like the UK division a proper chance, and given some of the matches they've put on you'd think it would be a chance worth taking because of the quality. Viewership over here would be huge as well.
The whole thing could be huge and make shit loads of money. But because they're only looking at profits, they won't take the chance because all they're seeing is that it will cost to produce and won't take the chance. Especially sad when you know that they can easily afford to take what would really be a small risk to their bottom line.
Gotta line the pockets of those CEO's though.

What division?
Remember when it was really cool? Like when Al Snow was champion and would represent a different area of the UK each week. My favorite was when he did Transylvania.
To be fair, they do kind of have a division. In the top quote they say "WWE is set to bring Tyler Bate, Trent Seven, Wolfgang, Pete Dunne and Mark Andrews to the United States". So they're looking at bringing UK wrestlers over for it properly.
Pete Dunne even calls it a division:
"I'm just really proud of where we're taking this U.K. division. Right now, we're still unsure of what it's going to become, but every time we put on a performance, we set out to kill it."
It's incredibly small and they have different contracts than usual since they can do other events... but it is kind of a division.
The current plan for the WWE UK show is for it to air before the end of the year. Originally, the tapings were set to happen in June and at present, there is still no official date for when they will begin. According to reports, there are "a lot of things to work out", including the fact that the original UK tournament caused the company to lose a significant amount of money.
Still planning to go ahead with it, but not start date is set.
So far this whole UK title thing has been an extreme flop. No one even knows the title exists at this point. It doesn't look like we will be getting a TV show for it any time show either, since they are looking to cut costs to increase profits. Why not just feature it on NXT more regularly for the time being? Would it really cost that much if WWE did what they were talking about and using a UK wrestling company to put on the show? If they did that though, I could see it going bad quickly, since WWE is so hands on and picky about what it puts out on TV.
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