I hate it.
I'm not the biggest Cena supporter in the world, but I just do NOT see anything in Sheamus that says "main event" to me. I haven't one single time yet. I think in terms of look, mic skills, ring skills, and charisma, he's equal to Shad Gaspard, but the only difference between the two save for skin color, hair, and nationality, is that Sheamus sucked up to the right person and received two undeserved world championships.
First title reign, what did Sheamus do to deserve it? A crappy feud with Goldust, a crappy feud with Benjamin, a bunch of jobbers and Jamie Noble. Then, he wins the title in a bad fashion, doesn't continue dominating at the Royal Rumble, and drops the title at EC (thankfully), loses at WrestleMania, and attacks HHH. Ok, so what's he done since then?.....Nothing else. His feud with Trips wasn't anything main event worthy to me either, and now he's being rewarded for, what exactly? This means not only am I going to be bored watching Raw (and Smackdown, because I didn't want Rey to win either), but now there's absolutely no reason for me to get excited about the main events of the ppvs, which are supposed to be the biggest draws of the card.
But one of the other things that annoys me about this is that it means Sheamus vs HHH will be about the championship, and HHH will return in time that he'll win it. Thus, not only am I not going to enjoy anything revolving around Sheamus on Raw (as has been the case since his debut) for however long he's champ, but I'm also going to have to sit through Hunter as champ again. I might as well not even watch Raw until Survivor Series.
I just don't see what's so great about him, and more importantly, what makes him supposedly good enough to be a 2 time WWE champion but the Miz hasn't won once yet is one of the three most over heels in the WWE and has been for a very long time. And I was looking forward to seeing Cena feuding with NXT and the WWE title being involved in the mix, but now that that's taken away, it's hurt the NXT feud as well.
So yeah, I have to give this "Sheamus as champ" situation a giant thumbs down, as I know from my entire experience so far with Sheamus that I'm not going to be entertained by it in the slightest bit.