To be fair for those of us who regularly watch Smackdown this wouldn't be terrible news. It wasn't until Rain pointed it out a couple of days ago that I noticed how good Smackdown's roster could be without Sheamus.
I mean currently, these are the guys involved in Smackdown fueds.
Faces:
Jericho
Christian
Orton
Ryback
Mysterio
Heels:
Ziggler
Rhodes
Barrett(soon hopefully!)
The Miz
Alberto Del Rio
Daniel Bryan (possibly)
Mark Henry
Sandow
With Miz or Del Rio possibly turning to counteract the lack of faces.
I would much rather see all of those guys and without Sheamus they would get pushed up the card.
At least if he pissed off over to Raw that it at least has other things to entertain me. Besides - he won't win the WWE title over the next 12 months +. That's completely between Punk, Rock and Cena as I'm guessing Punk will hold until RR, get beat by Rock to set up either Cena/Rock II at 'Mania or Cena/Rock/Punk. No matter how craptacular Cena/RockII will be at least it won't involve Sheamus.