To be fair, he should drop it if he can't draw. Let him sell shirts and merch, but don't give him the strap when other people can draw better, same with Orton.
The fact is Punks reigns as in multiple, have been badly rated throughout his career, all slips from past champs aside from Del Rio who sucks in his own right. When he was at his hottest he was bashing the company on his way out, but it makes no sense to let him bash it while he is locked in for years under contract. He also got hurt when his arguments were destroyed by Triple H and he was left repeating the same shit with no counter parts in their promo battle.
Kane can draw better. Kane drew better when comparing their SD reigns. We know Cena can draw better. Miz for all his faults drew better and was more must see for the casual. Jericho isn't the answer and neither is Orton as neither man draws viewers despite bing over. Personally what I would do from a business standpoint, would be to put the strap on HHH, Kane, or Cena. You put it on HHH and build to the match with Taker and the streak, plus add HBK to the mix as a ref. You put it on Cena for the match with Rock so that the title gets press throughout the media for his return match. You put it on Kane as a kick ass monster and bring the ultimate underdog in to challenge him in Rey if he can go at Mania, or have Sheamus win the Rumble and stomp everyone in his way the weeks after winning while Kane does the same.
If you are going to keep Punk in contention, have him drop it via screwjob to Miz and then let him chase until Mania where he gets screwed by Ace and Miz time after time
And yeah before it gets said, stop hiding behind the fact Rock and Cena will draw as an excuse for them to not place their best draws against each other in high profile matches at Mania to boost the Network launch which they have millions riding on. They can't have guys tuning out the top matches outside of that main event because it looks bad to advertisers, and that is why they will not take Kane, HHH, Orton, and Taker and face them off against weak names when they can out them against one another and put the weak young names in the undercard and show views escalating by the hour and say yeah these guys fucking draw so let's sell some ad space around them. That is just business. It is like saying LA vs Boston or LA vs Milwaukee for the nba, what do you really think advertisers and investors want to sell advertisements during?