Yes, but he's also bad in the ring and has nothing going for him on the mic beyond three catchprases, and once he had the title he had nowhere to go but down. His material was entirely based on the fact that he had nothing. With the US title, he didn't have that material to bitch about to hide the fact that he's got no charisma, talent or personality. He was fucked, the Eve/Kane/Cena stuff just sped up the process.
Go back and watch the Raw when CM Punk, Daniel Bryan and Ryder all celebrate being champions in the ring and tell me he'd have been able to continue his momentum without the Cena/Kane shit. The first two cut promos about what they did. Ryder spewed his catchphrases. The guy's got nothing going for him except a soon to be ended web series where he was carried by his more charismatic friends and family members.