Not that I've seen Raw (college get's in the way of that) but based off your description hell yes. But I do have to say it has almost nothing to do with him being the boss, considering he's been booked to look weak as hell in the past despite being the boss. His two most recent Mania matches involve him getting his ass kick pretty much every second of the match (Bret at XXVI & Shawn at 22). Hell a little over a year ago he was playing CM Punk's bitch albeit in a non-wrestling capacity. While being the boss is a slight factor, the determining factors here is that Vince is playing the face and [unfortunately in my opinion] Punk's playing the typical cowardly heel. Like he didn't at Night Of Champions, but did on several Raw's prior and from what I read continues to do so. Honestly, I don't watch so I'm not sure exactly what type of heel he's doing, but that's the simple reason.
I don't like the sounds of it, but it had a point and it sounds like it served it. Though I'm working with a handicap of trying to assess a situation I didn't see play out.