Belt exchange displayed that Cody wasn't afraid of Rock's power or influence, Cody knew he would get the belt back, and Cody holding Rock's belt showed Cody knows they are on equal ground now.
Rock is on the board so he had the uppergand with influence, but now Cody is the champ and has the people on his side.
Next time, Rock can try Bloodline bullshit but Cody has the boys on his side as well.
They are equal in power and influence now and Cody confirmed that, but whatever Rock handed him showed Cody Rock still had another trick up his sleeve.