I think it would be awesome if that fight happened, but I can't see why Jones would take it with Stipe coming off a loss and not being much of a draw. This is the same reason Floyd stopped after Jr MW and never went to MW. Because it is a way bigger risk of losing and you're just not really going to get the credit you deserve if you win. The risk/reward just isn't there at all.
If Stipe had KO'd DC, then beat another guy and then him and Jones meet up then that would make sense for Jones, but that didn't happen and he got KO'd instead. He just sold around 600k PPV's fighting Anthony Smith, doesn't really need to take a risk with Stipe when the reward just isn't really there at all. Way smarter to stay at 205 and keep cleaning it out until a HW draw emerges.
Just a pretty dumb move business wise so I can understand why he wouldn't do it.