Delete worksheets based on criteria

I think you just need to nest the conditions together and use the rows count instead of a cell value.

'Delete worksheets that have fewer than 200 records
        For I = 1 To ActiveWorkbook.Worksheets.Count
                If Not Sheets(I) = Sheets("vqueue") Or Sheets(I) = Sheets("Sheet1") Then
                      If Sheets(I).Range("B2:B" & lastRow).Rows.Count < 200 Then 
                           Sheets(I).Delete
                      End If
                End If
        Next I

Try on a copy of your WB first.

Sub With_Select_Case()
Dim sh As Worksheet
    For Each sh In ActiveWorkbook.Worksheets
        Select Case sh.Name
            Case "vqueue", "Sheet1"    '<----- Add all excepted sheets here
                'not above sheets
            Case Else
                'Delete if <200 rows
                If sh.Cells(Rows.Count, 2).End(xlUp).Row < 201 Then
                    Application.DisplayAlerts = False
                        sh.Delete
                    Application.DisplayAlerts = True
                End If
        End Select
    Next sh
End Sub

Try this, i forgot to actually use the sheet name to check against.. if you notice i added the .Name to the sheet line

Sub Del()
    Dim LastRow As Long
        For I = 1 To ActiveWorkbook.Worksheets.Count
        LastRow = Sheets(I).Range("A" & Rows.Count).End(xlUp).Offset(1).Row
                If Not Sheets(I).Name = "vqueue" Or Sheets(I).Name = "Sheet1" Then
                      If Sheets(I).Range("B2:B" & LastRow).Rows.Count < 200 Then
                           Sheets(I).Delete
                      End If
                End If
        Next I
End Sub

This would also work

Sub WorksheetLoop2()

   ' Declare Current as a worksheet object variable.
   Dim Current As Worksheet
   Dim LastRow As Long

   ' Loop through all of the worksheets in the active workbook.
   For Each Current In Worksheets

      If Not Current.Name = "vqueue" Or Current.Name = "Sheet1" Then
      LastRow = Current.Range("A" & Rows.Count).End(xlUp).Offset(1).Row
                If Current.Range("B2:B" & LastRow).Rows.Count < 200 Then
                     Current.Delete
                End If
          End If
   Next

End Sub