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Punk's WWE champion run is basically Hanlon's razor for me. The lead up to MITB 2011 is easily one of the best story lines WWE has ever done and that's because they were playing ball with an anti-hero.
Quite honestly if you ask me it was just stupidity as to why this whole thing started to fuck up massively. Punk should've been gone longer from the company before he returned. Punk left July 17, then came back on July 25th. During that RAW he came back, Rey won the title then lost it the same night to Cena, which is more of an indication that WWE was so fucking eager to get on with this storyline that they hotshot it as soon as possible.
What made really no sense was that Kevin Nash thing, which started Triple H getting involved, then Miz and R-Truth's involvement (and therefore Johnny Ace). I think when this weird bit happened, you can see just the stupidity of it all as they were playing around with proto-authority storylines along with just terrible booking. WWE decided that Del Rio needed to be a star, along with guys like Miz and Ziggler which tell you just how terrible the booking was at this point.
WWE continued from this point to book terribly. All things considered, what Punk was doing in 2011-2012 was a high point in a very shitty point for the company. It continued into 2013. The main event for Survivor Series, one of the biggest PPVs of that year was Big Show vs Randy Orton. It was also the very start of the Roman Reigns push.
If you mean in the sense that the company was not booking itself well and had numerous issues, yes. If you're talking about his opportunities being deliberately cut or something, no.