Yes, Punk is being force fed to us, and it's hopelessly pathetic. And the worst part about it is the reason why he is being force fed. CM Punk's meteoric rise to mediocrity was brought about because of his straight edge lifestyle. In the wake of a certain murder/suicide, the amount of heat on the WWE for drug problems was amazing. The drug free promise that this lifestyle holds made Vince and the creative team go "WAIT! This is how we can get this heat off of us. Push the guy who is drug and alcohol free!" And so there ya go, title straps, money in the bank, etc. It wasn't his work quality (which despite everything you read about him everywhere on the internet, including here, is not that great, at least not anymore). It wasn't his mic skills (non-existent from everything I've seen). It was his straight edge-ness. And this is why he's being force fed to us: because he hasn't earned any of this from his actual work, but from a by-product of the lifestyle he chooses. And to boot, it's a horrible gimmick for the time. It would have been great during the Attitude era when it was beers and sex on screen for 3/4 of the show and here stands this person counter to the entire scene, but now...not so much. The only way Punk could get over was by force feeding.
Case in point: my roommate and I got scolded by an 8 year old at a Smackdown TV taping for yelling for Edge to beat CM Punk, not because we're marks for Edge, but we just both really hate CM Punk. When 8 yr olds are such marks for a character that they are trying to argue his finer points to people who have been watching wrestling since before he was born...the character is being forced down our throats.