Yes that is a slim possibility. It also would have disrupted all of their plans for the future though. In this Sandow situation, the risk likely doesn't equal the reward. Think about it, Daniel Bryan was never supposed to be a big player in the WWE (supposedly), and when the fans started to get behind him, they screwed up everything that the WWE had been planning for months. It's one of the reasons why they did everything to quell the momentum, even going so far as to try and turn him heel and having him lose clean to Wyatt at the Rumble that year. One significant difference between now and then is, Bryan was only taking the spot of a part-timer who had already solidified himself as a legend, and because of that, it was actually beneficial for the WWE to create a new star out of him. Pushing Sandow during his hot run could have possibly resulted in him superseding Roman Reigns and that was just something that the WWE could not let happen.
So while Daniel Bryan ultimately became one of the greatest parts of this generation, he was never part of the plan, and that probably scared the crap out of WWE. I assume they decided to never let something get that out of hand again. This is me doing a ton of assuming though, and by no means am I saying this is the actual reason, just a possibility.
I'm not saying I agree with the WWE if this were the case, far from it.
I think some of your assumptions might be right because there is no other reason for what happened.
I'm reminded of what Vince said on the Austin podcast about no one reaching for the brass ring, also he runs this company for the fans and not himself. Just how much bullshit those statements turned out to be. He has tried to hold back almost everyone who the fans have gotten behind, Bryan, Ambrose, Sandow and others.
Wrestlers have tried to reach for the brass ring and found they were treated more like donkeys trying to get the carrot on a stick. The brass ring only exists for some and for others it's simply not there.
What I'm seeing happen here is plans are put in place, and come hell or high water they are going through with them, whether we like it or not. If fans get behind a wrestler it doesn't really matter, if Vince doesn't want him or her they go nowhere. So the message is loud and clear, cheer our guy because you have no other choice. No wonder fans are turning away from wrestling.