120 points are accorded to each series but teams don't play equal number of games.
Holding's problem is that although 120 points are accorded to each series included in the Test championship, it hasn't been made sure that all the nine teams are playing an equal number of games.
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This, not only encouraging sides to organise more two-match rubbers, but also making the journey towards the final scheduled for June 2021 slightly easier for some teams and tougher for others.
"It doesn't work," Holding told Wisden Cricket Monthly about the concept designed by the ICC to give more context to Test match cricket.
"First of all the points system is ridiculous. You can't play five Test matches and get the same amount of points if you play two Test matches."
"And secondly, at some point you're going to have teams who know they cannot get to the final and so those Test matches aren't going to be all that entertaining. People know it's just another game."
Chris Woakes, the England Test fast bowler, also weighed in over the issue and batted for tweaks in the points system.
"The New Zealand series (England lost 1-0 away to the Black Caps last winter) wasn't part of the World Test Championship but that defeat didn't affect us any less as players," Woakes said.
"I think the system might need a bit of tinkering with in the future. Anyone can turn someone over in a one-off final, depending on the toss or conditions. If there was more time in the calendar they could do a three-match final but unfortunately there just isn't."
The other issue with the Test championship is that doesn't make sure all nine teams are playing each other. For example, in the current cycle, neither India plays Pakistan nor England faces Bangladesh.
The focus and attention shall also be on how possibly Zimbabwe, Afghanistan and Ireland can be brought into the competition frame.
(Inputs from PTI)