If true, I don't blame the guy. The cruiserweight division is more of an iron ceiling than a glass one. Nobody's breaking through once you get painted with that brush unless they do away with the whole thing, which they won't. Not for a while at least.
It would be nice to see him go away for a little bit before returning as a regular competitor. He'll never be a World champ, but he could easily be a multiple time IC or US champion.