The guy is a heat magnet, there's no doubt about it, but Vickie Guerrero is a heat magnet as well, which makes her a perfect manager. If Ricardo is ever going to get anywhere with the WWE, it'd be as a manager to an up-and-coming superstar to eventually elevate them to the level Del Rio is currently at. Ricardo could also be used to introduce a new addition to the WWE roster, likely somebody being elevated from FCW.
I still think it's stupid to think he would be able to go from a manager, who is tossed around everytime he's in the ring and Del Rio isn't defending him, to actually doing anything of note on his own. That's not his fault, it's how he'd be booked, and I truly cannot see the WWE even putting him in a tag team let alone giving him an average singles run. It just shouldn't happen for his sake and fortunately won't happen