There's a story out saying that WWE is planning to turn Damien Sandow babyface and having a run as the World Heavyweight Champion at some point in the near future. Allegedly, the idea was for Sandow to be the first to cash in the MITB briefcase and to technically lose the match altogether, making him the first to do so, whereas Cena won his match against Punk via disqualification even though he didn't win the title. If the story is true, then that idea is obviously off the table at this point.
There was a time when the WHC was on a similar level as the WWE Championship. From its use beginning in late 2002 through maybe around 2010, it may have even been right at the same level of importance as the WWE Championship. After The Undertaker won the '07 Royal Rumble, they did a little bit in which he'd walk out on stage to intimidate the reigning WWE, ECW & World Heavyweight Champions before initially making his challenge. On an episode of Raw, all three champs were waiting in the ring while Taker stared each of them down, walking from one to the other was they stood side by side waiting for Taker to make his choice. He ultimately chose Batista, who was WHC at the time, by chokeslamming him. Taker ultimately won the WHC for the first time at WM 23 and had he not suffered a torn muscle, I think he would've had a long run with the title. Beginning in 2010, to me at least, it seemed like the importance of the title started to ultimately wane in comparison to the WWE Championship.
If Sandow is scheduled for a run with the title rather than Cena, then I don't expect the title to be elevated back to the level of the WWE Championship. The idea of Cena going after the WHC seems odd in the first place really and, again in my eyes, the only reason I could see Cena gaining the WHC would be to ultimately go up against the WWE Champion in a title unification match since the WHC is well below where Cena is on the roster.