Inoue but Nietes' whole career has been long underrated. I seldom ever hear his name brought up even when the division he fights is the subject of discussion (which is far too rare itself, but that's a different story).
Nietes is one of the most underrated fighters in boxing, his solid resume and title reign is very overlooked plus the guy can actually fight. Inoue is a big talent and most likely the most talented fighter in the division but his body of work is not enough for me to rate him over Nietes. Also i might be alone in thinking this but i would give Nietes a good shot at beating Inoue specially if it happens soon (probably will never happen theres talks of Inoue moving up in weight) the longer it passes the better and more experienced Inoue will be and less of a chance for a Nietes victory, but like i said this fight will most likely never happen.
I heard he was supposed to skip 112 and fight Narvaez next. :think Nietes would be a pretty clear number one at this point, given Inoue's abdication. He looked pretty terrific in the rematch with Fuentes, and a showdown with Inoue could have produced a lot of fireworks.