It annoyed me at first for the same reasons Laura said, just so sick of the same old Cena shit, especially with him having an easy out with the arm injury. They could have done a whole bunch of cool stuff with that and actually do stuff to get the fans behind him, but noooooooooooooooooo they had to rush the title onto Cena for some reason in a way that reminds all of us why we can't stand the dude. Sigh. #wwelogic
(And no, this doesn't elevate the WHC, it'll mean just as little whenever some random dude wins it again)
But when you think about it, it's fine. Best case scenario, they can play off of this (highly doubt it) and have his highly-competitive match with Cena elevate him, or just piss him off so he has a meaner streak and have some character depth (even more doubtful), worst case scenario is Sandow doing the same thing he was before, coming out and wrestling midcard matches while being hilarious and drawing gobs of heat even though he can't win a match. This won't hurt that at all.
Wonder why they bothered to do it though... why put the case on Sandow (well, to turn Cody babyface, so it wasn't pointless at all) but why did they just waste the briefcase like this?