Would you give Santino the strap? I mean, he's over, but is he credible enough to carry one of the main straps in the company? He could run with a mid-card title or something, but not the World Heavyweight Championship, unless it's a Kane-like run of a day.
It's not difficult to establish credibility when they guy actually has the in-ring talent to pull it off. It was the perfect setup tonight, an against the odds win over a champion that is believably beatable. When he hit the cobra, people actually believed and it would have been an awesome moment because the crowd wanted it. Booking from then on is easy, you put him up against an impossibly opponent, got him the old montage training buildup and make him credible and a fairytale winner. Sometimes giving the people what they want is the right thing to do, the WWE simply don't have the balls to do it though.