The only thing that matters about Bray Wyatt's returning feud is that he actually wins it, and like, strongly wins it. I'd only sign off on Rollins being his first if they were committed to putting the Championship on him but I don't think they'd go that route. I wouldn't want them to either, one of the great things about Firefly Fun House is that it actually has a good sense of pace to it's progression, it'd be a shame if he just shot to the top of the ladder, I'd rather Rollins be his second or third feud, after already establishing in prior programs that this new Bray Wyatt is indeed a legitimate competitor.
To be honest, I'm kinda expecting this gimmick to fall apart the second he starts actually wrestling, especially since I doubt Bray Wyatt's creative freedom with the segments will translate over to his wrestling matches. I hope it succeeds though.