I actually don't think it would be better. Part of the reason this storyline has been so entertaining (at least to most of us...hey, I'll be a majority of one if I have to be) is that we look at Daniel Bryan and we see a guy who is "too small" to be WWE Champion. We're looking at the guy who lost the WHC in 18 seconds. We're looking at a guy whose only real strength (as far as he's been marketed) is his intensity.
Were Punk in that position, the promos might be better (and, yes, I do mean might...Daniel Bryan's mic skills are sneakily good), the matches might be better (again, I do mean might...Bryan is an incredible worker), but it wouldn't seem so improbable that he could be WWE Champion. I mean, we're talking now about a guy who had the longest WWE Championship reign in over 25 years, longer than Cena, Rocky, or Austin ever held the title.
The draw of this entire feud (and if you're not entertained by it, you might want to stop watching for a few months because Bryan's actual feud, the one with HHH, is not over) is that a (literally) little guy is going up against the backstage, corporate, authoritative, what-have-you, forces that be. The other thing that works for Bryan is his earnestness. If it were Punk, he'd make a few smartass remarks and walk away with a knowing grin, but that doesn't work for Bryan. It doesn't fit his character. He's just so serious about it that, if he weren't so good, it'd be funny.
So, I think they picked the right guy to get into this feud. I still think Punk will play a role in it, but his role will be to take the belt off of Orton and then lose the belt to Bryan at Mania, which will be awesome.
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