He's not considering it.
Seth went on an autistic rant trying to convince Cody, the challenger, that he should compete for his, the supposed champion's, belt. It made him look like a sad little, insecure bitch.
Have you ever had someone plea and beg for you to do something, and you don't want to tell them right then and there, when they've laid their emotions bare, that you still don't want to do what they want?
So you pull the ol'... maybe ;) lemme just think about that... leave them hangin' for a while, and after a few days of no contact they'll understand that your maybs was really a thinly-veiled "fuck no".