I think it should be pointed out that Santino gained a victory in this bout pretty much the way he's gained most of his victories: by accident or dumb luck. I don't see that this roll-up victory was any different given that he was pretty much out of it at the time. Santino, I have to say, is an extremely unique talent in that he can come off as being a total lightweight no-talent and yet pull off some pretty amazing things seemingly by accident. Even though we all know it's scripted and rehearsed, it's constantly believable that these things could be total coincidence. I think the match was an excellent short match as is given who was fighting.
The real purpose of this match, as I see it, was to humiliate Sheamus and to humiliate him in the most complete way. What better way to do this than to have him lose a match, via pinfall, to the "worst wrestler" on the roster? This will allow Sheamus all the reason he needs to go absolutely monkey-poo on everyone in his path. Because Morrison was involved, he'll be the one to get the legit victories with Santino on the sidelines as distraction and irritant, you know, playing to his strengths.
I don't think Santino will ever "get serious". I don't think he needs to. Personally, I'd be all for seeing at least a short main event title for Santino, falling into it by accident, keeping it a little while through fluke victories, and finally losing it. Transitional, no doubt, and probably pretty silly, but I'm one of those folks apparently in the minority that rather enjoys Santino's comedy bits.