We have to wait and see how this plays out. For all we know it, "The End of the World as You Know It" means Jericho's ultimate intention is to unify the World Titles. So, perhaps he didn't have to win the match for it to begin. Sheamus winning the Rumble still introduces a challenger into the championship picture that could ultimately end up winning the Undisputed Championship (Sheamus vs. World Champ/Jericho vs. Punk/Winner vs. Winner).
Jericho has come out with complete aggression and a no bullshit attitude since his proclomation. At the Rumble, there were zero shenanigans. Last night, again, he just threw Bryan into the barricade and hit the Codebreaker on Punk.
Hell, at the very least, Royal Rumble was the reveal of his true character. Not the guy fake pandering to the crowd. I wouldn't rule out Punk/Jericho being intertwined with Rock/Cena in the build up to WM. Maybe, just maybe, it isn't Kane who pushes Cena completely over the edge. Maybe Jericho gets in his ear and "The End of the World as You Know It" is Cena turning heel.
The point is I don't know. We don't know. And it's useless to bitch this early in the game with 2 months still left to build. It'd be like watching the first 10 minutes of Phone Booth (bear with me) and being like, "This is stupid! Where the fuck is the phone booth? This doesn't add up. This movie is a liar!"
Just calm down, and enjoy the ride. Just think for the next two months RAW will feature talent like The Rock, Undertaker, Triple H, Chris Jericho, Mick Foley, and even Goldust in addition to all the regular young talent. Throw in Masked Kane, Mark Henry, (Edge &) Christian, and William Regal as well. All these old STARS are back to help boost the current generation up. This is a great time. Be patient, even though I know you won't.
Maybe this end of the world talk is the beginning of the torch passing from the Attitude Era to the new one. It has been a decade since those legends were doing the same thing all these new fresh faces are doing.
You have to trust Jericho's creative integrity. This will not be a waste, and I think once this plays out everyone will come to appreciate what all the vignettes, pandering, vow of silence, and grand proclamation have built to. Come WM28, I don't think anyone is going to be bitching about how all this will have played out.