I tend to disagree. While, I'm a fan of Punk having him go after the IC title would help its prestige, but Curtis Axel is in the middle of a really good run. Why take away when you can break down Punk this fall and utilize his ability to help Axel move up? At the same time Punk will get his retribution on Heyman before moving on to what we all hope leads to CM Punk winning the Royal Rumble. IF he wins the Rumble I would like to see him challenge The WWE Champion Randy Orton at WM. There's plenty of storyline there. Not only does Punk not fit what the McMahons view as a Face of the company type of guy, but it would hopefully allow Punk to exact revenge upon losing to Orton at WM 27.
A few months ago, Michael McGillucutty was barely on TV, and only used on Superstars and House Shows to put over other other low level talents like Zack Ryder and Alex Riley by giving them a "pity win" every now and then. Curtis Axel has ALREADY moved up, he's not ready or good enough to be moved up further...yet.
Axel is in a better spot than he was a few months ago. The Intercontinental Championship needs CM Punk more than Axel needs the belt.
With the majority of the focus being on building Daniel Bryan up as the new possible "face of the company", there's no room for Punk in the WWE Title picture. And the World Heavyweight Title would argue be a bigger step down for Punk than the IC belt would be; it would look like they're giving him a "consolation prize" to keep him busy.
WWE needs to clean up its title structure. The actual number of belts they have is fine, but the problem is that whom each belt is intended to be for is muddled. The people competing for the World Title clearly have less star power than those competing for the WWE Title, but kayfabe wise, we're supposed to believe that the World Champion is equal to the WWE Champion. With two World Titles, WWE is trying their to pass upper midcarders off as main eventers. The Intercontinental and United States Championships are supposed to both be " upper midcard" titles, but the IC belt is usually given to bigger names that WWE wants to highlight or keep relevant, while the U.S. Title, for the most part, is equivalent to the European Title or WCW Television Title, the belt for the low level guys to strive for.
The Intercontinental Title should be in the spot that the World Heavyweight Title is currently in. Punk could build the belt up to that point and make it prestigious again so that they won't need two World Titles anymore.
If Punk rebuilds the IC title, WWE can clean up its titles. Get rid of the WCW leftovers and replace them with new or revived WWE-created titles.
Punk can hold the title for a few months, raising its profile, and then when he does drop it, the person he loses it to will be put over huge. Beating CM Punk for the Intercontinental Championship will mean more than beating Kofi Kingston or The Miz for it.